12 Jun, 2017 18:40
Nati Yefet
Minister of Energy Yuval Steinitz severely criticized Noble Energy, Delek Group, and Ratio.
Minister of National Infrastructure, Energy, and Water Resources Yuval Steinitz has rejected the appeal by Noble Energy, Delek Group Ltd. (TASE: DLEKG), and Ratio Oil Exploration (1992) LP (TASE:RATI.L) on the decision by Director of Natural Resources Administration & Petroleum Commissioner Yossi Wurzburger against extending the companies' oil and gas exploration license for the Hanna [block]. Wurzburger's decision came after the companies found only 2-3 BCM of natural gas in the Dolphin drilling, an amount insufficient to make the prospect commercially valuable.
Tel Aviv, June 22, 2016. Delek Group (TASE: DLEKG, US ADR: DGRLY). Further to the filing of an application by the partners in License 351 / Hanna to the Petroleum Commissioner at the Ministry for National Infrastructures, Energy and Water to recognize the Dolphin natural gas reservoir in the area of the Hanna License as a discovery in the meaning of the Petroleum Law, 1952, and receipt of the lease in accordance with the provisions of the Petroleum Law, Delek Group’s gas subsidiaries announce that on June 20, 2016 the Commissioner informed that if the license partners provide by August 1, 2016 an irrevocable commitment to develop the Hanna license together with Phase 1 of the Leviathan field as well as a plan of the requested area to be declared as a discovery, the Hanna license partners will then be granted a lease during the four months following (namely by December 1, 2016), and this is in order for the development of this lease to be completed by the end of 2019.
Tel Aviv, Tuesday, December 15, 2015. Following the earlier reports made by the partners in the Hannah license to the Petroleum Commissioner in the Ministry of National Infrastructures, Energy and Water Resources ("the Commissioner"), the following is noted. Based on the findings of the "Dolphin" well, a Netherland, Sewell & Associates report evaluating the resources, economic analysis and assembly of relevant data, the natural gas reservoir "Dolphin", located in the Hannah license area, is pronounced a discovery as defined in the Petroleum Law – 1952, which justifies its development. The Hannah license partners, including the Delek Group gas subsidiaries, submitted a request to the Commissioner for declaring Dolphin a discovery as well as a request for the extensions of its validity, in accordance with Article 18(b)(2) of the Petroleum Law and Article 15 of the Petroleum Regulations – 1953.
