The news is a blow to environmentalists who had tried to block drilling of the license due to its proximity to a proposed marine nature reserve, Dow Jones reported.
Modiin operates Gabriella after farming in with a 70% stake it purchased from Israel-focussed Adira Energy.
The consortium will drill the license with the semi-submerisble Noble Homer Ferrington. The rig is contracted to Modiin through mid-May of this year.
