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  • Palestinian Authority Seeks Bids for West Bank License

    The Palestinian Authority issued a tender for oil exploration in the West Bank for a license it said could hold 30-186 MMbbl.The area is located outside the West Bank city of Qalqilya, near a small field being developed by Israeli firm Givot Olam. The project will be run as a joint venture, with the...

    Palestinian Authority Seeks Bids for West Bank License
    Others

    The Palestinian Authority issued a tender for oil exploration in the West Bank for a license it said could hold 30-186 MMbbl.

    The area is located outside the West Bank city of Qalqilya, near a small field being developed by Israeli firm Givot Olam. The project will be run as a joint venture, with the government-owned Palestine Investment Fund having at least a 25% stake, according to Deputy Prime Minister for Economic Affairs Mohammad Mustafa. Bids will be accepted until end Jun-2014.

    The project is expected to generate more than $1 billion in taxes, royalties and other bonuses for the Palestinian Authority.

    Source: Reuters

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