Israel converts two offshore gas licenses to leases

Delek Group says Israel’s Ministry for National Infrastructures, Energy and Water has granted two consortia leases for the offshore Karish and Tanin gas discoveries.

Apr 8th, 2016

Offshore staff

TEL AVIV, IsraelDelek Group says Israel’s Ministry for National Infrastructures, Energy and Water has granted two consortia leases for the offshore Karish and Tanin gas discoveries.

Karish contains an estimated 1.8 tcf and Tanin 1.2 tcf (both contingent and prospective).

The consortia, which include Delek subsidiaries, exercised their right to acquireNoble Energy’s interests in the formed licenses for the two accumulations late last year.

Currently they are negotiating with various potential operators the sale of their rights in the leases, as stipulated under Israel’s natural gas outline.

04/08/2016

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