A significant Israeli power firm at this time introduced its plans to conduct exploration actions in Morocco.
NewMed Vitality mentioned it’s in “superior negotiations for receiving exploration licenses in offshore Morocco.” The exploration would happen in each the Atlantic Ocean and the Mediterranean, in keeping with a press release released by the newswire Cision.
NewMed Vitality was beforehand often known as Deltek Drilling, however rebranded itself at this time. In a video, the corporate mentioned the brand new identify is according to their imaginative and prescient of a “New Center East.” The video showed CEO Abu Yossi assembly with Egyptian and Emirati power officers in an obvious reference to the normalization of relations between Israel and Arab states.
NewMed Vitality and the US power big Chevron personal the Leviathan fuel area off the coast of northern Israel. In 2020, Israel began exporting pure fuel to Egypt for the primary time. Final 12 months, the 2 international locations agreed to connect Leviathan to liquified pure fuel pipelines in northern Egypt by way of an underwater pipe.
Now, NewMed Vitality is in “commercial negotiations” with two Egyptian amenities to export fuel from Leviathan to Europe and East Asia, in keeping with the corporate’s web site.
The Moroccan authorities didn’t seem to instantly touch upon the information. Israel and Morocco agreed to establish full relations in 2020 as a part of the US-brokered Abraham Accords. Relatedly, Israel’s financial minister visited Rabat this week and signed a trade agreement together with her Moroccan counterparts.
