Israel: Delek Drilling Announces Start of Drilling at Leviathan Field

Delek Group  subsidiaries Delek Drilling L.P. and Avner Oil Exploration Limited Partnership published the following report:

“With regard to the immediate report dated 29.8.10 (Reference 2010-01-601575: Delek Drilling and Reference 2010-01-648921: Avner), we hereby announce that Noble Energy Mediterranean Ltd., the operator of the exploration licenses Sea-Ratzio (Rachel, Amit, Hannah, David and Eran) (hereinafter: “the licenses”), announced to the partners of the licenses, that the drill rig, Sedco Express, arrived at the drill-site of Leviathan-1 in the Rachel license and began drilling.

As previously reported, the drilling site Leviathan-1 is planned under the drilling of the Rachel license, at about 135 kilometers west of Haifa in deep water of approximately 1,634 meters. Drilling is planned to drill for three targets and to a final depth of 7,200 meters (including water depth) and is expected to take approximately five months.

Following the completion of the drilling operations at Leviathan-1, the drill-rig Sedco Express is expected to move to drilling in the Tamar development project.

About The Delek Group

Delek Group is the leading energy & infrastructure group based out of Israel with investments in upstream & downstream energy, water desalination and power plants globally. In addition, Delek is the number one importer & distributor of vehicles in Israel and owns insurance assets in Israel and the US. Earlier this year, Delek Group, through its subsidiaries, discovered significant quantities of high quality natural gas off the coast of Israel. Delek Group sales reached over 43 billion Israeli shekel in 2009.

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Source:Delek Drilling, October  19, 2010;