The company has signed deals to acquire five licenses in approximately 4,000ft of water in the Levantine Basin.
The licenses are subject to approval by the Ministry of National Infrastructures, and ATP will operate all its licenses with working interests ranging from 40% to 50%.
ATP chairman and CEO Paul Bulmahn said that the recently announced discoveries offshore Israel totaling approximately 25tcf of natural gas have demonstrated a significant catalyst for the offshore hydrocarbons sector.
"The strategic use of our deepwater technical expertise in Israel is one facet of ATP’s global diversification plan," Bulmahn said.
ATP is an offshore oil and gas development and production company with operations in the Gulf of Mexico and the North Sea.
