The EU has the duty to play the responsible adult and intervene in facilitating an agreement between Israel and Cyprus to enable the development of the major Aphrodite natural gas field, writes Rony Halman

Israel's Ministry of Energy Director General Udi Adiri wrote to Delek Drilling CEO Yossi Abu, Noble Energy SVP Keith Elliot and Shell East Med GM Chris Breeze, "I wish to advise you that the State of Israel has not relinquished its share of the Aphrodite-Ishai natural gas reservoir, and has no intention of doing so."

"The government is allowing Delek Group, Noble Energy to humiliate it," says Ohad Schwartz, a director at Nammax Oil & Gas. "We once again see that the Cypriot government and the Aphrodite partners are taking another step towards development of the reservoir, while openly and contemptuously ignoring the rights of Israel and the Yishai prospect in the reservoir."

Israeli business that will drill the site, which reportedly contains NIS 1.2 billion of black gold, denies Arab media reports that license lies within Palestinian territory

Jerusalem (CNSNews.com) – An oil discovery in the Dead Sea region that sat dormant for more than 20 years is being dusted off to see if it might yield a profitable amount of precious crude for the domestic Israeli market.

Stock of company licensed to drill at the site jumps 35% following publication

The declaration confirms that the Cypriot Aphrodite reserve is partly in Israel's economic zone.

“We are looking ahead to a fruitful collaboration and the strengthening of strategic relations in energy between Israel and Cyprus,” says Cyprus Opportunity head.

For the first time, a Cypriot gas exploration company has obtained part of a proven oil license in Israel.

Israel Opportunity CEO Eyal Shuker: There is an opportunity to expand assets at low cost.

A new natural gas field off Israel’s Mediterranean coast may hold about 3.2 trillion cubic feet (tcf) of gas, an exploration group said on Sunday after analysing a 3D seismic survey of the area.

If it materializes, this makes Royee, owned by Ratio, Israel Opportunity and Edison, Israel's third largest gas reserve.