The Leviathan partners Ratio Oil Exploration (1992) LP (TASE:RATI.L), and Delek Group Ltd. (TASE: DLEKG) units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) notified the Tel Aviv stock Exchange this morning that together with the license operator Noble Energy Inc. (NYSE: NBL) they will be making an initial $120 million investment in developing the field. They also reported that they are in talks with several entities on gas export deals. RELATED ARTICLES Ratio starts to raise funds for Leviathan development Leviathan partners insist their gas estimate is right Energy Ministry approves Leviathan development plan Leviathan partners sign $3b gas deal The $120 million will be spent on FEED services (detailed engineering specifications) and procurement of equipment and services for developing the field. Although the High Court of Justice is yet to approve the new gas outline agreement with the "softened" stability clause, the partners reported that they are in talks with potential customers both in Israel and abroad on gas supply agreements. The partners still estimate that gas will begin flowing from Leviathan by the fourth quarter of 2019. The Leviathan partners received a boost from Turkey earlier this week where reports say that Israel and Turkey will sign a reconciliation agreement next week. Published by Globes [online], Israel business news - www.globes-online.com - on June 22, 2016 © Copyright of Globes Publisher Itonut (1983) Ltd. 2016
