The Delek Group, that began in 1951 as the Delek, Israel Fuel Corporation, is listed on the Tel Aviv Stock Exchange and is controlled by internationally renowned businessman, Mr. Isaac Tshuva. The Group, Israel's dominant integrated energy company, is the pioneering leader of the natural gas... More
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- The group that is drilling for gas at the huge Leviathan field off the coast of Israel is in "advanced negotiations" with the government to sell two smaller reserves in order to assuage antitrust concerns.
- The consortium comprises Noble Energy (NBL) and Delek Group (DGRLY) units Delek Drilling (DKDRF) and Avner Oil & Gas (AVOGF).
- The areas under discussion, called Tanin and Karish, hold combined estimated reserves of 3T cubic feet, well below the consortium's other resources - Leviathan has 19T cf and Tamar 10T cf.
- Once an agreement is reached, the group will have a reported 2.5-4 years to sell the assets.
Dec. 3, 2012, 5:17 AMAustralia's Woodside Petroleum (WOPEF.PK) agrees to acquire a 30% stake in Israel's massive Leviathan offshore gas field from the operators of the reserve, which include Noble Energy (NBL) and Delek Drilling (DKDRF.OB). Woodside will pay an initial $696M and as much as $550M once certain conditions are met, as well as revenue-sharing money of up to $1B a year. Noble's stake will fall to 30% from 39.66%. (PR) | Dec. 3, 2012, 5:17 AM | Comment!