Energizing
the Future

NewMed Energy is Israel’s leading energy partnership in the exploration, development, production and sale of natural gas and condensate.

The partnership previously named “Delek Drilling” is a subsidiary of the Delek Group.

NewMed Energy’s home court is the Eastern Mediterranean, where it has initiated the natural gas sector in Israel, and made history with its unprecedented agreements with Egypt, Jordan and the UAE which strengthened peace and increased stability in the Middle East. NewMed Energy has been a key partner in almost every gas discovery made in the last thirty years in Israel’s EEZ, and in the first natural gas discovery made in Cyprus’s EEZ.

NewMed Energy holds 45.34% of the Leviathan Reservoir, the largest gas reservoir in the Mediterranean, the Leviathan gas production serves as a key source of energy for the State of Israel and the countries of the region.

In accordance with its strategic policy, in the coming years NewMed Energy will invest in the development of new technologies to produce energy from alternative sources: production of blue hydrogen alongside carbon capture and storage, promotion of renewable energy projects, and more.

It is not often that a business can say that its actions and operations have changed the course of history. The story of NewMed Energy is an example of such a rare case.

NewMed Energy works to bring independent and readily available energy to the residents of the Eastern Mediterranean, energy which will lead to an immense reduction of pollutant and greenhouse gas emissions, energy which will succeed in building bridges for collaboration between the Middle East countries – energy which changes reality.

Through its relentless pursuit of achievement and excellence, NewMed Energy has been a key partner in all of the huge discoveries made in the Israeli exclusive economic zone (EEZ), primarily the Leviathan reservoir.

NewMed Energy's vision is also one of widespread regional collaboration. In this context, NewMed Energy has promoted agreements for the export of natural gas from its reservoirs to customers in various Middle Eastern countries. The natural gas from Leviathan currently serves as a key source of energy for Israel, Egypt, and Jordan, shifting the regional energy map on a daily basis and helping such countries to reduce the use of polluting fuels such as coal and diesel.

In the coming years, NewMed Energy aims to continue its historic journey.

We are making a tremendous effort on promoting and developing alternative energies and new technologies that will enable hydrogen production and carbon capture and storage, alongside increasing investment in renewable energy projects.

At the forefront of our minds are the groundbreaking vision, and the entrepreneurial and fresh spirit that was our hallmark from the outset: Good energy, regional collaboration, a clean environment and a world moving forward.

Board and Management

Management
Board
Team

Yossi Abu

CEO

Sari Singer Kaufman

VP Legal

Dr. Zvi (Kul) Karcz

VP Exploration

Nadav Perry

VP Regulatory and Public Affairs

Ronen Edward

VP Leviathan Project

Tzachi Habusha

VP Finance

Saar Prag

VP Trade

Guil Bashan

Principal Analyst and Director of Investor Relations

Tal Levi

VP Budget & Control

Aviv Kirshenbaum

Managing Director New Venture & Country Manager (Cyprus), Head of ESG

Moshe Botzer

Project Director

Yehuda (Hudi) Bruker

Chief Engineer

Gabriel Last

Chairman of the Board

Idan Wallace

Director

Leora Pratt Levin

Director

Tamir Polikar

Director

Jacob Zack

External Director

Amos Yaron

External Director

Efraim Sadka

External Director

Limor Avichail

CEO's PA & Office Manager

Yedidia Gellman

Reservoir Specialist

Varda Yashar

Bookkeeper

Orly Cohen

Administrative Manager

Hamutal Meshulam

Bookkeeper

Polina Rozimberg

Administrative Manager

Dr. Omri Shitrit

Geoscientist

Lior Cohen

Financial Controller

Reuben Bor

Analyst

Moran Levy

Advocate

Niv Avigad

Advocate

Shiran Bozikovsky

CISO

Shai Adler

Financial Advisor

History and Heritage

NewMed Energy's story begins with two natural gas exploration partnerships founded in the early
1990s which revolutionized the energy map of Israel and the Eastern Mediterranean.

The Avner Partnership was founded in 1991 by Dr. David Cohen OBM, geologist Dr. Eli Rosenberg and Gideon Tadmor.
Two years later, the Delek Group founded Delek Drilling, a limited partnership, with the aim of promoting natural gas exploration in the Israeli EEZ. After Mr. Yitzhak Tshuva acquired control of the Delek Group in 1998, the collaboration between Delek Drilling and Avner commenced, and in practice they became sister partnerships with identical areas of operation and ownership structures. In 2017, Avner was merged into Delek Drilling.

2022

Looking to the future Delek Drilling changes its name to NewMed Energy, and announces a strategic restructuring, deepening of the operating areas into alternative energy segments, including production of hydrogen, promotion of carbon capture and storage, and investment in renewable energy, alongside operation and expansion of existing projects, exploration for natural gas in new areas for the Partnership, and integration of ESG and transparency principles in the spirit of the modern Western investment environment.

2021

Sale of the holdings in the Tamar reservoir NewMed Energy sells its holdings in the Tamar reservoir to Mubadala Petroleum of Abu Dhabi, and fulfills all of its obligations under the government Gas Framework.

2019

A new era The piping of natural gas commences from the Leviathan reservoir to customers in Israel, Jordan and Egypt. The gas from Leviathan enables the Government of Israel to decide to stop using coal, and it replaces polluting fuels which were used in Egypt, Jordan and Israel. NewMed Energy, together with Chevron and the Egyptian East Gas, acquires holdings and the operating and capacity rights in the EMG pipeline which connects between the Israeli and Egyptian transmission systems, and thus ensures the implementation of the export contract which was signed between the reservoirs in Israel and the Egyptian market. At the height of the Covid crisis, NewMed Energy promotes one of the largest financial transactions in the world in 2020, raising $2.5 billion in bonds from some of the most significant investment bodies and international financial institutions worldwide, which express confidence in the Leviathan project and the financial strength of NewMed Energy, despite the difficult and challenging times.

2018

Dolphinus transaction The partners in Tamar and Leviathan sign historic gas export agreements totaling $15 billion with the Egyptian company Dolphinus, for a total sale of approx. 64 BCM over 10 years from the two reservoirs.

2017

Leviathan gets underway NewMed Energy and Chevron adopt a final investment decision (FID) for development of the Leviathan reservoir.

2017

From Tamar to Jordan For the first time in history, Israel produces natural gas for a neighboring country, Jordan. Through a connection to the Israeli national transmission system near Sodom, gas is piped from the Tamar reservoir to two Jordanian Dead Sea factories, Jordan Bromide and Arab Potash.

2016

Sale of Karish and Tanin NewMed Energy sells the Karish and Tanin gas reservoirs to the Greek company Energean. In September of the same year, an unprecedented agreement is signed for the export of a total of 45 BCM of natural gas from the Leviathan reservoir to the Jordanian Electric Company over a period of 15 years.

2014

MOUs for gas export to neighboring countries The gas partnerships sign a succession of MOUs for exporting gas to the Jordanian Electricity Company, the domestic Egyptian market, and the gas liquefaction facilities of British Gas and Union Fenosa in Egypt.

2014

Bond. Tamar Bond. NewMed Energy marks a huge success in raising $2 billion in international capital markets. The offering sees surplus demand of over 700%, attesting to the faith of the international finance industry in NewMed Energy and in the future of the Israeli gas industry.

2013

Karish is discovered. NewMed Energy and Chevron announce another gas discovery, the Karish reservoir, which is located 75 km northwest of Haifa and includes approx. 50 BCM of natural gas.

2013

Piping begins The first gas from the Tamar reservoir reaches the shores of Israel. The project is declared one of the most successful projects in the international energy industry.

2012

A seventh discovery in the Israeli EEZ NewMed Energy announces the Tanin discovery, a reservoir declared to have potential for 35 BCM of natural gas. That same year, NewMed Energy, together with the other partners in the Tamar reservoir, signs an anchor agreement with the Israel Electric Corporation, enabling a significant decrease in the use of coal for power production.

2011

The Aphrodite reservoir, located in the NewMed Energy, Chevron and Shell lease in the EEZ of Cyprus, is declared a reservoir with potential for 129 BCM of natural gas. This is the first natural gas discovery identified off the shores of Cyprus.

2010

Leviathan is discovered in deep waters The Leviathan reservoir, the largest natural gas field in the Mediterranean and one of largest reservoirs in the world, is discovered by NewMed Energy, Chevron and Ratio. With approx. 650 BCM of natural gas, Leviathan, when it is discovered, is the largest gas discovery in more than a millennium.

2009

A new reservoir off the shores of Israel NewMed Energy, together with Chevron and its other partners, announces its discovery of a huge reservoir of natural gas in the Israeli EEZ: the Tamar reservoir. With proven reserves of 306 BCM, Tamar immediately becomes Israel's largest deep-water gas discovery, and highlights the significant energy potential of the Mediterranean coastal region. The same year, following the success in Tamar, the partners continue explorations and go on to drill the Dalit well offshore Hadera.

2004

History is made Yam Tethys pipes natural gas to the Israeli market. The Israel Electric Corporation produces electricity from the gas from the reservoir, and for the first time since its establishment, Israel produces power independently.

1999

The first gas discovery off the shores of Israel The two modest gas discoveries of the Noa and Mari B reservoirs together become "Yam Tethys", the first natural gas project in the State of Israel.

1998

Yitzhak Tshuva becomes the owner of the Delek Group, and decides to strengthen Group's energy operations. He recruits the U.S. energy giant Noble Energy (now Chevron), and the two companies work together in exploration of natural gas reservoirs in the Mediterranean.

1993

Delek Drilling is founded as a limited partnership which is the energy arm of the Delek Group, one of the most long-standing and leading bodies in the Israeli economy.

1991

Dr. David Cohen OBM, geologist Eli Rosenberg, and Gideon Tadmor establish Avner Oil & Gas Exploration.

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