Research on the Levant Basin dates back to 2010 when the Leviathan block was first discovered by Ratio Oil. Following this, companies like US-owned Noble Energy and French giant Total E&P began to actively show interest in the region. Following discoveries in the Israeli and Cypriot Exclusive Economic Zones (EEZ), Italy’s Eni had “outstanding” results in the Zohr field in Egypt. Levant Basin (Click to enlarge) Partnering up on hydrocarbons: An energy dispute Regional countries stand to benefit from the discovery of hydrocarbons. This includes strong economic incentives, both for the EU, as well as partner states. Cyprus, Egypt, Lebanon, and Israel have all recently pushed for stronger economic cooperation. In fact, Cyprus views itself as a ‘bridge’ between the EU and ME given its efforts to engage in tripartite partnerships. Additionally, it has been argued that closer economic cooperation might lead to overall stronger relations, confidence-building , and […]