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PALESTINE TO RE-SUBMIT OIL DRILLING TENDER IN WEST BANK

RAMALLAH, Dec 25 — Minister of National Economy, Mohammad Mustafa Wednesday said the Palestine government intends to resubmit an international tender for oil drilling in the West Bank’s oil fields located along the borders of 1967.

The government submitted the tender last March, but the project came to a halt when Israel waged its 51-day war against the besieged Gaza Strip. The tender was put on hold and local and international companies were unable to compete.

The area in question is estimated at 432 square kilometers, stretching along the western parts of the northern and central West Bank from the north of Qalqilia to the West of Ramallah.

Mustafa said, “The energy bill accounts for about a quarter of the size of the Palestinian economy, which reflects the importance of the existence and implementation of energy projects in Palestine.”

Due to the positive impact of energy projects on the Palestinian economy, reflected through the expected billions of dollars in revenues for the state treasury, and the creation of thousands of jobs, the Palestinian government gives a great importance and aims for its success and its implementation on the ground.

Interested companies with technological and technical resources and expertise are advised to present their bids no later than Dec 31, 2015.

SOURCE: WAFA

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