Middle East

Delek Drilling in Israel will be renamed.New share

Israel’s Delek Drilling, which owns shares in the huge Leviathan gas field off Israel and the undeveloped Aphrodite gas field off Cyprus, has changed its name to New Med Energy. Apart from the name change, the company shared a renewal strategy that included expanding production of Revere Sun, offshore drilling in Morocco, and launching an alternative energy sector focused on blue hydrogen and carbon recovery.

Yossi Abu, CEO of NewMed Energy, has made NewMed Energy virtually the best international energy entity with the success of production in the Revere Sangas field over the past two years, especially the successful realization of the regional export vision. The importance of the region. “

Delek Drilling, now New Med Energy, is constantly increasing its latest analysis showing demand for natural gas (both regional and domestic) on Tuesday, expanding production from the Leviathan oil field in accordance with an approved development plan of 21 BCM each year. Said to justify.

The second phase of Revere Sun will focus on global exposure to LNG, as well as expanding the infrastructure to transport natural gas from the reservoir to additional consumers in the export market.

As stated to be interested in the areas of Leviathan and Aphrodite, the company also said it is in an advanced process for obtaining an exploration license in Morocco.

“New Med Energy has identified Morocco as a country with great geological and commercial potential. The partnership’s board of directors has allowed New Med Energy’s management to act, and the partnership is now off the coast of Morocco. We are in high-level negotiations on the acquisition of an exploration license for the Mediterranean and the North Atlantic. “

NewMed Energy also said it has set up an alternative energy sector to produce blue hydrogen and recover carbon.

“Blue hydrogen, which does not emit pollutants by combustion, is a future global fuel for clean power generation and has the potential to be a low-carbon alternative for energy consumers. Toward renewable energy in the global market. Future investments include the development of new projects and the acquisition of mature projects. “

“Israel’s natural gas revolution following the Leviathan Reservoir has reduced pollution caused by gas supply power generation in Israel by about 70% and significantly reduced greenhouse gas emissions. Gas exports from reduced Leviathan Air pollution is also seen in the countries of Israel and Jordan. ” ..

CEO Abu said: It is a core asset and will facilitate key processes such as the expansion of Leviathan and the development of the Aphrodite Reservoir, as well as the start of exploration and production of natural gas in other countries of the Middle East.

“New Med Energy aims to be a leader in the alternative energy industry, primarily in the production of blue hydrogen from natural gas, in addition to carbon capture and entry into renewable energy, as Delek Drilling did. , NewMed Energy continues to be a major energy anchor. The region aims to provide investors with both stable dividend yields and growth. “

https://www.oedigital.com/news/494508-israel-s-delek-drilling-changes-name-shares-new-strategic-plan Delek Drilling in Israel will be renamed.New share

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