|Participation in a Tender for the Purchase of Oil and/or Gas Exploration Rights in Cyprus – Update|
Tel Aviv, January 3, 2017. Delek Group (TASE: DLEKG, US ADR: DGRLY) (“the Company”)
Further to the provisions of the Partnerships immediate report of July 24, 2016 regarding the submission of a bid in a tender which was published by the Cypriot government for the purchase of oil and/or natural gas exploration rights in the area of Cyprus’s EEZ (the “Bid” and the “Tender”, respectively) by a consortium which includes the Partnerships and Capricorn Oil Limited (collectively: the “Bidders”), the Partnerships respectfully update that on January 2, 2017, the Partnerships received notice from the Cypriot government that the process of review of the bids in the Tender has been completed and that the Bid was ranked second. According to the notice as aforesaid, if the negotiations between the chosen bidder and the Cypriot government do not lead to an exploration and production agreement, the Bidders will be invited to negotiate the terms and conditions of such an agreement based on the Bid. In this framework, the Bidders granted the request of the Cypriot government to extend the validity of the Bid.
This is a convenience translation of the original HEBREW immediate report issued to the Tel Aviv Stock Exchange by the Company on January 2, 2017.
About The Delek Group
The Delek Group, Israel's dominant integrated energy company, is the pioneering leader of the natural gas exploration and production activities that are transforming the Eastern Mediterranean's Levant Basin into one of the energy industry's most promising emerging regions. Having discovered Tamar and Leviathan, two of the world's largest natural gas finds since 2000, Delek and its partners are now developing a balanced, world-class portfolio of exploration, development and production assets with total gross natural gas resources discovered since 2009 of approximately 40 TCF.
In addition, Delek Group has a number of assets in downstream energy, water desalination, and in the finance sector.
For more information on Delek Group please visit www.delek-group.com