Gulf Oil and Gas accountACCOUNT

Clarification Concerning Reports in the Press

Source: www.gulfoilandgas.com 12/19/2016, Location: Middle East

Share |
Delek Group provides below an Immediate Report published by both Avner Oil Exploration Limited Partnership and Delek Drilling Limited Partnership (“the Partnerships”), which addresses and clarifies on publications made in the press concerning the negotiations between the Tamar Partners and Union Fenosa Gas SA (“UFG”), to achieve a binding agreement for the supply of natural gas from the Tamar Project for the existing UFG liquefaction installations in Egypt.

Further to Section 7.13.5(a)(2) of the periodic report of the Partnerships as of December 31, 2015, as released on March 28, 2016 regarding a letter of intent executed between the Tamar partners and Union Fenosa Gas SA ("UFG"), under which the parties are negotiating a binding agreement for the supply of natural gas from the Tamar project to UFG, for the purpose of feeding the existing UFG liquefaction plants in Egypt, and in response to reports in the media, the Partnerships wishes to clarify that, contrary to implications arising from the said reports, and following clarifications received from UFG on the matter, the parties are even now continuing to conduct negotiations on a continuous basis with the aim of reaching a binding agreement for the supply of natural gas from the Tamar project to the existing UFG liquefaction plants in Egypt.

Warning regarding forward-looking information: The information specified above on the forecast for the execution of a binding contract constitutes forward-looking information, as defined in the Securities Law, 5728-1968, which there is no certainty will materialize, in whole or in part, in the manner stated or in any other manner, and it may materialize in a materially different manner to the aforesaid, and in particular there is no certainty that the parties will reach an agreement on the terms and conditions of a binding contract.

The partners in the Tamar Project and their holding rates are as follows:

- Noble Energy Mediterranean Ltd. 36.00%
- Isramco Negev 2, Limited Partnership 28.75%
- Avner Oil Exploration, Limited Partnership 15.625%
- Delek Drilling, Limited Partnership 15.625%
- Dor Gas Exploration, Limited Partnership 4.00%

Natural Gas News in Israel >>

Russia >>  9/15/2017 - Gazprom Export LLC and the Croatian Prvo plinarsko dru?tvo d.o.o. signed a long-term contract on natural gas supplies for the period from 1 October 20...
Nigeria >>  9/11/2017 - Nigerian energy company Shoreline has signed a $300 million agreement with the local unit of Shell to develop gas infrastructure around the commercial...

Russia >>  9/5/2017 - A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Sergey Zhvachkin, Acting Governor of the Tomsk Region, took...
Iran >>  9/4/2017 - There has been an increase of 18 percent in exports of Iran’s condensate to global markets, saying its exports of the ultra light fuel over a period o...

Australia >>  8/30/2017 - Santos has signed a location swap agreement facilitating the delivery of at least 18 PJ of gas per annum into the southern domestic market. ...
United Arab Emirates >>  8/28/2017 - Organisers of the annual Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), hosted by ADNOC, have confirmed the event’s technical c...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Israel Oil & Gas 1 >>  2 | 3 |

Oil & Gas Projects in Israel >>

More News

 

Oil & Gas Companies in Israel >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.