December 6, 2016, 10:37 pm
BY AFP, Times of Israel staff contributed to this report
Noble Energy and Delek’s $150 million deal with Energean aims to resolve anti-trust issues
Israel gave the green light on Tuesday for the sale of two gas fields in the eastern Mediterranean to the Greek firm Energean, Energy Minister Yuval Steinitz announced.
The two fields, named Karish and Tanin and estimated to hold 60 billion cubic meters (2.1 billion cubic feet) of gas, had initially been allocated to a consortium grouping US firm Noble Energy and the Israeli group Delek, which already control two much larger fields.
“We have decided to put an end to this monopoly situation,” Steinitz told public radio, explaining the consortium’s sale of exploitation rights in the two fields to Energean for $150 million (NIS 570 million).
8:04 AM EEST
September 1, 2016
Delek Group, the Israeli energy company controlled by billionaire Isaac Tshuva, is considering New York, London or Amsterdam for an initial public offering of its stake in the Tamar natural gas field valued at $3 billion to $4 billion, according to people with knowledge of the matter. Bloomberg's Elliott Gotkine reports on "Bloomberg Markets Middle East." Watch the 2 minute VIDEO.
(Source: Bloomberg)
January 28th, 2016
Noble Energy, the operator of major resources offshore Israel, told the country’s high court of justice that it had lost trust in the government of Israel.
"We arrived at this situation because the Israeli regulatory system is broken, and this situation causes Noble Energy's owners, shareholders and managers to lose trust in the government of Israel and its declarations," Noble said.
The declaration was made despite the fact that Noble and the Israeli government are both respondents, on the same side, in a hearing at the High Court of Justice on February 3. At that hearing, the court will consider four petitions to block the implementation of the natural gas regulatory framework.
Approval of Outline Plan for Organization of the Natural Gas Market
Tel Aviv, December 17, 2015. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces pursuant to what was stated in section 1.7.25(3) of the Company's Annual Report to December 31, 2014 that was published on March 30, 2015 (ref. no. 2015-01-067483), and the Company's Immediate Report dated August 17, 2015 (ref. no. 2015-01-097854) concerning the Government's approval of the outline plan to increase the amount of natural gas produced from the Tamar natural gas field and the rapid development of the Leviathan, Karish and Tanin natural gas fields and other gas fields ("the Gas Outline Plan" or "the Outline"), subject to provision of a waiver under section 52 of the Anti Trust Law, 1988 ("the Anti Trust Law"), as stipulated in the Outline, that on December 17, 2015 the Gas Outline Plan was validated, after the Prime Minister in his capacity as Minister for the Economy exercised his authority under section 52 of the Anti Trust Law.
Below (respectively) are links to the website of the Prime Minister's Office concerning the Prime Minister's announcement and the wording of the Outline:
http://www.pmo.gov.il/MediaCenter/Speeches/Pages/speechGas171215.aspx
http://www.pmo.gov.il/Secretary/sederyom/gov34/Documents/n105.pdf
The Partnerships, Delek Drilling Limited Partnership and Avner Oil Exploration Limited Partnership have added in respect of approval of the Outline that since the Outline has become effective as stated above, the Partnerships will act to implement it in accordance with its terms and the terms of the leases, and in particular will act, together with their partners in the Leviathan and Tamar leases, to continue making investments and carrying out the necessary actions for the rapid development of the Leviathan field and the expansion of the Tamar field.
This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on December 17, 2015.
Source
Petition to High Court
Tel Aviv, December 17, 2015. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces that attached is an Immediate Report just submitted by each of Delek Drilling Limited Partnership and Avner Oil Exploration Limited Partnership (together "the Partnerships") concerning a petition to the High Court against various bodies including the Partnerships, which principally contains claims concerning the Government decision to approve the Gas Outline Plan, and concerning the National Master Plan for planned natural gas installations, and a request to be granted an interim injunction that orders, inter alia, the Prime Minister and Minister of the Economy not to approve the Gas Outline Plan in accordance with section 52 of the Anti Trust Law, 1988, as detailed in the attached report.
We hereby announce that on December 16, 2015 the Partnerships received a copy of the petition to the High Court, including the request for an order nisi and the grant of an interim injunction, filed by the Israeli Forum for the Protection of the Coastline, against Benjamin Netanyahu, Prime Minister and Minister for the Economy, the Government of Israel, the Ministry of National Infrastructures, the Ministry for the Protection of the Environment, the Ministry of Health, the National Council for Planning and Construction, and against Delek Drilling Limited Partnership, Avner Oil Exploration Limited Partnership and Noble Energy Mediterranean Ltd. It included principally claims concerning Government Decision No. 476 dated August 16, 2015 concerning approval of the Gas Outline Plan, and to the National Master Plan 37/h and 37/2 concerning planned natural gas installations, and the request for the grant of an interim injunction ordering, inter alia, the Prime Minister and Minister of the Economy not to approve the Gas Outline Plan in accordance with section 52 of the Anti Trust Law, 1988.
The Partnerships intend to study this petition to the High Court with the assistance of their legal counsel, to assess its significance and accordingly to formulate their further steps in the matter.
This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on December 17, 2015.
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