Published On: Thu, Dec 11th, 2014

Yitzhak Tshuva: British Gas Leviathan Deal for Egyptian Market in Q1 2015

Off shore oil Rig

Delek Group Ltd. (TASE: DLEKG) controlling shareholder Yitzhak Tshuva has told an investors conference today that he expects to sign a deal with British Gas (BG) to supply natural gas from the Leviathan field to its Egyptian installation in the first quarter of 2015.

Noble Energy Inc. (NYSE: NBL) owns 39.66% of Leviathan, Delek units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) each own 22.67% and Ratio Oil Exploration (1992) LP (TASE:RATI.L) owns 15%.

Tshuva also said, “We are continuing to consider investment options in international energy companies.”

He added that in the coming years the group’s combined natural gas sales from the Tamar and leviathan fields will total 35-40 BCM annually.

Delek Drilling CEO Yossi Abu said that the Tamar field will reach annual sales production of 20 BCM following the signing of a contract with Spanish company Union Fenosa and a deal to sell natural gas to the domestic Egyptian market. He added, “We have not neglected drilling at the Leviathan field. It will be carried out with production drilling of Leviathan and expansion of Tamar.”

 

Published by Globes [online], Israel business news – www.globes-online.com

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