IO Monthly Update - October 2014
Israel Opportunity Latest Announcements
  • Cyprus Opportunity enters 'Hatrurim' license
On September 28th, 2014, an amended application was submitted to the Petroleum Commissioner to obtain "Hatrurim" onshore license. C.O Cyprus Opportunity Energy Public Company Limited was added as a party in a rate of 5% (on account of Ginko and Zerach Partnerships' portions) to the application for the license, which is located in the Judean Desert, near the Dead Sea.
Industry Updates
  • Reminder: UOG 2014
A chance to learn about the E&P opportunities for operators, service companies and contractors offshore and onshore in Israel; network with licensee holders, government officials, international experts and senior executives in the oil and gas industry; and hear from industry professionals about doing business in Israel and maximizing investments.

UOG 2014, one of the most important and groundbreaking oil and gas events in the region, will take place on November 18-20 at the Dead Sea Resort Hotel & Spa, Dead Sea

For further information and registration: www.universaloilgas.com
  • Alexander Varshavsky to be Director General of Natural Gas Authority
According to 'Globes' magazine, the search committee of the Ministry of National Infrastructures, Energy and Water Resources recommends Varshavsky, who serves as Acting Director General of Natural Gas Authority alongside his role as Petroleum Commissioner since the resignation of Shuki Stern in 2013. 
  • Ratio Oil Exploration raises NIS 300 Million
Ratio Oil Exploration has recently raised NIS 300 million in bonds to finance the company's share in Leviathan. The Leviathan project development cost, which primarily includes developing the regional pipeline, amounts to $ 6 billion.
  • Leviathan partners expected to finalize Jordan gas deal within the next month
As published in 'Reuters', the deal to supply Jordan with natural gas from Israel's Leviathan field is expected to be signed during November, thus according to a statement from Jordan's Energy Minister, Mohammed Hamed.



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