So far, American, British and Canadian companies have joined the program
to explore and develop natural gas reserves off the Israeli coast of the
In the latest development, Canada's GeoGlobal Resources
has signed a drilling services agreement with Britain's Exceed Deep Water
Drilling Specialists. Israel has already reported two gas reserves in the
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[On March 16, Egypt restored natural gas supplies to Israel and
Jordan, Middle East Newsline reported. This marked the first operation of the gas pipeline in the Sinai
Peninsula since it was bombed on Feb. 5.]
Under the accord, GeoGlobal and Exceed would cooperate in the
exploration of the Myra and Sara licenses off the Israeli coast. Executives
said Exceed would prepare for drilling at these two licenses, operated by
Each of the licenses held by GeoGlobal encompass 400 square kilometers.
Executives said the company has processed three-dimensional seismic data to
determine exploration prospects.