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Report: Exxon considering bidding on Israeli offshore oil fields

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Report: Exxon considering bidding on Israeli offshore oil fields

Oil major Exxon Mobil Corp. is looking into the possibility of venturing into oil and gas production in Israel, according to a report from Reuters citing an unnamed source.

The report said Exxon officials held initial talks with Israeli Energy Minister Yuval Steinitz in Houston this week about bidding for the right to explore and produce oil from offshore blocks in an auction that will be held in June.

Exxon recently acquired a $50,000 data package from the Israeli energy ministry for the June auction.