Delek Group Ltd. (TASE:DLEKG) controlling shareholder Yitzhak Tshuva believes that among the additional gas exploration licenses held by Delek Energy Systems Ltd. (TASE:DEOL) are even larger gas fields than in the proven reserves already found at the Tamar and Dalit prospects.
Tshuva said, "If we have already found gas in four locations in this region with an almost 100% success rate, it is reasonable to assume that we have drilled for just a small part of what is there."
Tshuva said that Delek Energy is about to conduct a three dimensional survey in the "razion yam" license area which is in close proximity to the Tamar well, and depending on results, speculative drilling will commence at the end of 2010 or start of 2011.
Tshuva added that the partnership has already drawn up plans for "Leviathan" the underground geological structure in the region where the drillings are taking place. Delek's partner in Tamar, Noble Energy owns 39.66% of this prospect while elek Energy units Delek Drilling Limited Partnership (TASE:DEDR.L) and Avner Oil and Gas Ltd. (TASE:AVNR.L) own 22.675.
Tshuva also spoke of the influence of these gas finds on the Israeli economy. "The Israeli economy will receive massive strengthening. Just think of the hypothetical amounts of taxes that the state will receive, if you suppose that gas sales over the next 15 years will reach $1 billion per year."
Published by Globes [online], Israel business news - www.globes-online.com - on September 8, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009