Company Overview

Delek Drilling LP and Avner Oil Exploration LP (the "Partnerships") are Israel's leading oil and gas companies both traded at the TASE 25 (Tel Aviv Stock Exchange Largest 25 Index) with a market capitalization of approx. US$ 2 billion, each.

 

The Partnerships are, primarily, involved in exploration, development and production of natural gas offshore Israel and Cyprus where we own significant acreage and, in partnership with Noble Energy Inc. ("Noble Energy") we've successfully uncovered the vast natural gas potential (currently 2P+2C reserves of 34 TCF) of the Levantine Basin and the entire "East Med" area with three of the largest deep-water discoveries in the last decade.

 

Our expertise-driven exploration has resulted in the Yam Tethys discoveries (1.2 TCF/33.5 BCM) in 1999-2000; the spectacular Tamar and Dalit  discoveries in 2009 (9.7 TCF/ more than 258 BCM) and in 2010 – Leviathan the World's largest deep water natural gas discovery of the decade (17 TCF/over 2.7 Billion BOE gross mean resource)and Cyprus "Block 12 (Aphrodite)", a 5.2 TCF (Contingent + prospective) discovery offshore Cyprus. But the excitement in the newly discovered Levantine Basin does not end with the Leviathan and Tamar Discoveries.

 

Delek Drilling and Avner, holds extensive rights in the Levantine Basin. As a result of the latest 3D acquisition, Noble – the operator of most of these licences - estimates the gross mean recoverable resource potential of natural gas in the leads and prospects identified in these rights to be in excess of 11 TCF.

 

For almost 30 years, Delek Drilling and Avner Oil has been recognized for its experienced management team, and its ability to identify and create unique investment opportunities, both in established and emerging markets.

 

Our goal at Delek Drilling and Avner Oil is to systematically and assertively operate and grow our promising operations (exploration / production) off Israel's shores. In so doing, we create capital value for our shareholders, while locating and producing clean and dependable energy resources for the Israeli and international markets.

 

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Delek Drilling and Avner Oil seasoned management team, coupled with the robust backing of the Delek Group, allows us to act in a timely fashion upon relevant new opportunities.

 

We are highly regarded in the industry for our expertise in wisely managing the delicate balance of geological, financial, and commercial risks involved in exploration, development, and production.

 

We at Delek are especially proud of our recent Leviathan field discovery, the world's largest in this past decade, and are excited about our upcoming exploration in the adjacent area.

 

» ISRAEL

 

The newly discovered Levantine Basin in the Israeli offshore is the talk of the industry these days, and the partnerships owns rights to very significant acreage in this promising region. We intend to continue exploring offshore Israel in the coming months and years.