Israel is moving forward with a fifth competitive process for natural gas exploration in its economic waters, following approval of a major export agreement with Egypt and amid rising regional demand for energy.

Minister of Energy and Infrastructure Eli Cohen announced that the new bidding round will offer six offshore blocks covering approximately 8,600 square kilometers in the Mediterranean Sea. The move comes several weeks after a recommendation by the Oil Council and is being carried out under the authority granted to the minister by law.

According to the Ministry of Energy and Infrastructure, the designated areas were selected after extensive professional analysis, including geological studies and years of accumulated seismic survey data. Officials say the findings present a promising outlook for additional natural resource discoveries in Israel’s economic waters.