Delek Drilling Limited Partnership (TASE: DEDR.L) chairman and Avner Oil and Gas LP (TASE: AVNR.L) CEO Gideon Tadmor is likely to leave his position in the coming months, sources inform "Globes." Tadmor was CEO of Delek Energy Systems Ltd. (TASE: DLEN)a subsidiary of Delek Group Ltd. (TASE: DLEKG), controlled by Yitzhak Tshuva, from 2001 until 2011. He is identified with the offshore gas discoveries in Israel in recent years, and was among the founders of the Yam Tethys, Tamar, and Leviathan projects.
Only last week, Delek Group reported that Tadmor had acquired ownership of the Navitas Petroleum company from it, and was considering both a share flotation on the Tel Aviv Stock Exchange (TASE) and a private placement. The company, current jointly owned by Delek Group and Tadmor, holds rights to 14 oil and gas exploration licenses in Louisiana in the US and off the Texas and Louisiana shore in the Gulf of Mexico. Investment in the licenses totals $11 million.
The Delek Drilling and Avner Oil and Gas partnerships and Tadmor said in response, "Gideon Tadmor's employment agreement will expire only at the end of 2015, and the parties are considering possible cooperation after that time."
Yaniv Friedman was appointed deputy CEO of Delek Drilling and Avner Oil and Gas today. A former VP strategy at Avner Oil and Gas, he is returning to Delek Group after having served as deputy CEO of Ellomay Capital Ltd. (NYSE MKT: ELLO). He was appointed to his previous job in the gas partnerships in 2011, after spending several years in the US, where he worked in the energy sector. As VP strategy of Avner Oil and Gas, Friedman was responsible for handling the negotiations to complete the Woodside deal, and managed the Block 12 project in Cyprus until the stage of submitting a plan for development of the Aphrodite reservoir to the Cyprus government.
Tadmor welcomed Friedman's appointment, saying, "Yaniv is returning to help us lead the Israeli gas industry to new heights. His managerial experience in the local and international energy sector will be expressed in dealing with our next challenges: expanding the Tamar project and developing the Leviathan project." Delek Drilling CEO Yossi Abu added, "In the coming years, the Israel and regional energy sector is expected to revolutionize the development of the discoveries in Israel and Cyprus. Yaniv is returning to the company at an exciting time, and I am convinced that his great abilities and the managerial experience he has accumulated will contribute to designing the shape of the regional energy sector."
Published by Globes [online], Israel business news - www.globes-online.com - on November 1, 2015
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