BP and SOCAR Enter Israeli Waters With Gas Exploration Deal [Yahoo! Finance]
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Source: Yahoo! Finance
The deal grants exploration rights in Zone I of Israel's Exclusive Economic Zone, marking BP's first venture in Israel and SOCAR's first exploration project outside Azerbaijan. The three-party consortium, consisting of BP, SOCAR and NewMed Energy, secured the rights to Zone I after winning a competitive bid in Israel's 4th Offshore Bid Round in 2023. The round offered exploration opportunities in four designated zones — E, G, H, and I — covering 20 blocks in total. SOCAR will serve as the operator of Zone I, holding a 33.34% stake, with BP and NewMed Energy each holding 33.33%. The Israeli government views this agreement as a key move to strengthen domestic gas production and expand exports. Officials highlight natural gas as a crucial asset for
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AROC
Earnings
- 2/24/25 - Beat
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Sec Filings
- 4/25/25 - Form SCHEDULE
- 4/15/25 - Form SCHEDULE
- 3/28/25 - Form 4
- AROC's page on the SEC website