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Yitzhak Tshuva’s Delek Group invests $1 billion in an oil reservoir in Mexico

Itzhak Tshuva/ Photo by Gil Yohnan

Itzhak Tshuva‘s holding company, Delek Group’s reported Thursday that it will acquire 22.45% of the Cesar Tonga oil reservoir in the Gulf of Mexico for $ 965 million. It is one of the largest oil reservoirs in the deep waters of the Gulf of Mexico.

The group will acquire its stake in the fuel giant Shell. The Delek Group’s share in the reservoir is attributed to expected reserves of about 78 million barrels of oil equivalent (2P), a daily production of about 16,000 barrels of oil equivalent and an annual flow of about $ 230 million per year.

Assi Bartfeld, CEO of the group told Calcalist: “This is a strategic business opportunity for synergistic investment in the company’s operations, which will enable the Group to operate in a productive oil asset with significant proven reserves, strong flow, and partnership with leading players in the global energy market.”

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