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 >>

China >>  7/24/2017 - Sino Gas' Joint Venture company, Sino Gas & Energy ('SGE'), in conjunction with its Sanjiaobei PSC Partner, PetroChina, have signed a new GSA for gas ...
Azerbaijan >>  7/18/2017 - SOCAR has opened another filling station in Romania. The new station is situated in the county of Timi?, the main highway connecting Romania and Hunga...

Israel >>  7/16/2017 - Israel's Oil Refineries (ORL) is in talks to by 17 billion cubic meters of natural gas from Greek exploration and production firm Energean. ...
Qatar >>  7/10/2017 - Qatari exports of liquefied natural gas (LNG) remain stable amid ongoing tension between the world's biggest LNG exporter and its neighbors, an execut...

Russia >>  6/27/2017 - A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Dusan Bajatovic, Director General of Srbijagas, took place ...
Cameroon >>  6/26/2017 - Victoria Oil & Gas Plc has extended the current gas supply agreement with ENEO Cameroon S.A. (ENEO), the Cameroon energy joint venture between UK Grou...

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.