Delek Group Seeks More Acreage Offshore Cyprus

Delek Group Seeks More Acerage Offshore Cyprus

On Friday, May 11, 2012, Delek Group Gas Subsidiaries submitted a proposal to participate in the Government of Cyprus tender, to acquire rights of exploration and production of oil and / or natural gas in the Economic water area of Cyprus.

The proposal was submitted as part of a consortium comprising Avner Oil Exploration LP (12.5%), Delek Drilling LP (12.5%) and the following companies: Enel Trade S.p.A. (15%), Edison International S.p.A. (30%) and Woodside Energy Holdings Pty Ltd. (30%). Tender results are not expected to be published before the fourth quarter of 2012.

The Group, through Avner Oil Exploration and Delek Drilling, already owns a stake in a field offshore Cyprus. In December last year, operator Noble Energy reported a significant gas discovery in A-1 well, Block 12, offshore Cyprus, in which Delek Drilling and Avner Oil Exploration will each have 15 percent

Cyprus Offshore Blocks

The Group, Israel’s dominant integrated energy company, is the pioneering leader of the natural gas exploration and production activities that are transforming the Eastern Mediterranean’s Levant Basin into one of the energy industry’s most promising emerging regions. Having discovered Tamar and Leviathan, two of the world’s largest natural gas finds since 2000, Delek and its partners are now developing a balanced, world-class portfolio of exploration, development and production assets.

The second license round offshore Cyprus opened 11th of February 2012 and according to reports it has attracted 29 companies. The round expired on Friday, May 11.

Cyprus’ Commerce Minister, Neoclis Sylikiotis on Friday said 29 international companies submitted 15 bids for nine offshore blocks, the result that “surpassed our expectation”, Cyprus Mail reports.

Offshore Energy Today Staff, May 14, 2012