Uncertainty surrounding Israel's upstream activity

Israel has sought to end years of upstream uncertainty, introducing new regulations for the development of offshore reserves, but obstacles remain

Israel's prime minister Binyamin Netanyahu has had his attention drawn away from the country's perennial security challenges in recent months. Controversies over the country's hydrocarbons policy have risen to the top of his in-tray. In early September, the Israeli parliament gave the green light to a framework regulation designed to encourage the development of offshore reserves, with a US-Israeli consortium given the go-ahead to develop the Leviathan gas field. It obliges Israel's Delek to sell its 31% stake in Tamar in six years and the US' Noble must scale down its stake from 36% to 25% in the same period. They must also sell their stakes in the Karish and Tanin fields within 14 months a