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Drilling to begin offshore Gaza Strip – Brief Article

An Israeli consortium has filed a complaint against British Gas (BG), arguing that BG’s drilling permit is invalid because the Palestinian Authority had no right to issue it. The consortium claims to have found enough gas in Israeli territorial waters to supply Israeli demand for 10 to 15 years. BG plans to begin exploration drilling this month, starting with an area offshore Palestine’s Gaza Strip, then expanding to areas near Israeli maritime borders. BG has asked the Israeli defense ministry to resolve the matter. The company said it would invest up to $500 million over 25 years to develop the Palestinian gas industry.

COPYRIGHT 2000 Gulf Publishing Co.

COPYRIGHT 2000 Gale Group

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