Israeli companies are now involved in exploration and production of gas and with more intensity since the discovery of the Tamar and Leviathan gas fields offshore Israel. This activity has recently attracted one of the Majors with the acquisition of Noble Energy by Chevron.
Israeli companies have become actively involved in overseas E&P operations. Delek has acquired Ithaca, who in turn acquired Chevron’s operations in the North Sea; Navitas Petroleum has acquired operations in the Gulf of Mexico, Texas and the Falkland Islands; and Ratio Petroleum acquired exploration rights offshore Guyana, Surinam, the Philippines, Malta and Ireland.
Shibolet has been involved in Oil & Gas E&P operations since the discovery, by Superior Oil Company, then the largest independent oil company (acquired by Mobil in 1980), of the Alma Field in the Gulf of Suez (40,000 BOPD), and the discovery of the Kerem Shalom gas field in North Sinai (by the Moncrief Group of Fort Worth). For the past years, the firm has been representing Ratio Petroleum’s international operations and has drafted and negotiated Production Sharing Agreements with the governments of Malta, Guyana and the Philippines, as well as Farmout agreements and JOA’s with ExxonMobil, Hess, Tullow and others.
Shibolet has vast first-hand experience in all aspects relating to the daily operations of exploration and production, both onshore and offshore.