Sources inform ''Globes'' that the Teddy Sagi-Yaakov Luxembourg group has apparently won one of the offshore licenses in the Benjamin license area. On Thursday, the Petroleum Council concluded its discussions for licenses in the area as well as for applications for licenses in the former Hof license.
Sagi controls Playtech Cyprus Ltd. (AIM:PTEC), and Luxembough is the controlling shareholder of Lapidoth Israel Oil Prospectors Corporation Ltd. (TASE: LAPD), one of Israel's oldest oil and gas exploration companies. Its drilling operator is Caspian Drilling.
The Petroleum Council's recommendations will be sent to the Petroleum Supervisor at the Ministry of National Infrastructures. The Sagi-Luxembourg group is expected to win one of the three potential licenses for the Benjamin license area. The group will apparently win the license in the eastern portion, which is considered highly attractive, because of its proximity to the gas discovery at Dalit.
Several groups are bidding for the license for the western part of the Benjamin area. US businessman Larry Mizel is considered the favorite to win.
Published by Globes [online], Israel business news - www.globes-online.com - on June 13, 2010
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