Author: bomuo

Royalties on oil and gas discovery in Israel are 12.5%

The holder of a petroleum right has the duty to inform the petroleum commissioner of any discovery made by him

The holder of a petroleum right shall furnish the Commissioner with samples of the rocks and fossils collected by him, but where a single sample is not capable of being divided, the holder of the petroleum right may keep it himself in his possession

A licensee has the obligation to commence petroleum exploration activities within a certain period, in Israel it is within four months from the day on which the exploration license is granted