Agreement for the export of natural gas from the Leviathan project to the Jordanian national electric company (NEPCO) - update

March 7, 2018 at 3:36 PM EST

Tel Aviv, March 7, 2018. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”) announces that attached are Immediate Report published by Delek Drilling Limited Partnership ("the Partnership") concerning an update in regard to an agreement for the export of natural gas from the Leviathan project to the Jordanian national electric company (NEPCO):

 

Further to the provisions of Section 7.13.5(b)(1) of the Partnership’s periodic report as of December 31, 2016, which was released on March 23, 2017 (ref. no.: 2017-01-023917), regarding the agreement for the supply of natural gas from the Leviathan project to the Jordanian national electric company (NEPCO) of September 26, 2016 (the “Agreement”), the Partnership respectfully announces that on March 6, 2018, all of the conditions precedent set forth in the Agreement were fulfilled.

 

Based on the data that are known to the Partnership and to the operator in relation to the pipeline to Jordan and the infrastructure that connects between Jordan and the Egyptian transmission system, the capacity of the said pipeline will enable the piping of an annual quantity of up to 10 BCM of natural gas to Jordan and through Jordan to Egypt.

 

The partners in the Leviathan project and their holding rates are as follows:

Noble Energy Mediterranean Ltd.                                                 39.66%

Delek Drilling - Limited Partnership                                              45.34%

Ratio Oil Exploration (1992), Limited Partnership                           15.00%

 

This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on March 7, 2018.

 

About The Delek Group

Delek Group is an independent E&P and the pioneering visionary behind the development of the East Med. With eight consecutive finds in the Levant Basin, Delek is leading the region’s development into a major natural gas export hub. In addition, Delek has embarked on an international expansion with a focus on high-potential opportunities in the North Sea and North America. Delek Group is one of Israel’s largest and most prominent companies with a consistent track record of growth. Its shares are traded on the Tel Aviv Stock Exchange (TASE:DLEKG) and are part of the TA 35 Index.

 

For more information on Delek Group please visit www.delek-group.com

 

Contact

Investors

Dina Vince

Head of Investor Relations

Delek Group Ltd.

Tel: +972 9 863 8444

investor@delek-group.com