Eni S.p.A, an Italian integrated energy company, stepped away from a consortium that was seeking to explore natural gas offshore Israel. The consortium consisted of Eni, Dana Petroleum and Ratio Energies, and the remaining partners will continue to pursue offshore natural gas exploration under a different structure.
The consortium had received six exploration licenses in Cluster G, awarded under Israel’s fourth offshore licensing round, which commenced in December 2022. The licenses include blocks 27, 28, 36, 37, 70 and 74. The blocks have not been officially awarded yet. Previously, Eni was expected to assume operatorship of these licenses. In October 2025, the company informed Israel’s Commissioner for Petroleum and its partners about its decision to exit the consortium.
Following Eni’s withdrawal, Dana Petroleum and Ratio Energies have decided to work together and apply for the license. The ownership structure and division of holdings between the two companies have not been decided yet. Ratio Energies reportedly waited before announcing Eni’s exit, as it wanted to ensure that Dana Petroleum would act as the operator of the gas field if one is discovered in the exploration process. Dana Petroleum has stated that it plans to remain in the consortium and continue the licensing process to begin exploration activities. The partners are evaluating the potential compensation that Eni will have to pay for backing out of the consortium.
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