Delek Group Ltd. (TASE: DLEKG) applied for Cypriot offshore oil and gas exploration licenses on Friday through its gas exploration units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L). The companies are part of a consortium with Italy's Enel Trade SpA, France's Edison International SpA, and Australia's Woodside Energy Holdings Pty Ltd.
Noble Energy Inc. (NYSE: NBL) did not file any bids for the Cypriot licenses, according to the Cypriot media.
Woodside and Edison International each own 30% of the consortium, Enel owns 15%, and Avner and Delek Drilling each own 12.5%. This arrangement may lead to foreign participation in Leviathan, which Delek owns with Noble Energy and Ratio Oil Exploration (1992) LP (TASE:RATI.L), as some the companies have assets that Delek lacks. Edison International owns a gas pipeline in Europe, and Woodside specializes in liquefied natural gas (LNG infrastructures development.
Enel SpA (BIT: ENEL) and Edison International (a subsidiary of EDF SA (Euronext: EDF)) are two of Europe's largest energy companies.
Cyprus Opportunity, owned by Rony Halman and Uri Aldubi, a sister company of Israel Opportunity Energy Resources LP (TASE: ISOP.L), has bid for two of the Cypriot licenses, together with Norway's AGR Group Inc.
Modiin Energy LP (TASE:MDIN.L), Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) affiliate Naphtha Israel Petroleum Corp. (TASE: NFTA), ATP Oil & Gas Corporation (Nasdaq: ATPG), and Dor Chemicals Ltd. also filed a joint bid in the tender.
A consortium of Alon Natural Gas Exploration Ltd. (TASE: ALGS), Sigma Exploration Ltd., and Cyprus's Petrolina (Holdings) Public Ltd. (CSE: PHL) filed bids for Blocks 2 and 9.
Published by Globes [online], Israel business news - www.globes-online.com - on May 13, 2012
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