Israel’s Delek Group has changed the name of its East Mediterranean upstream subsidiary from Delek Drilling to NewMed Energy, whilst reiterating that its key near-term priority is expanding output at its core asset – Israel’s 23tcf Leviathan field.
NewMed essentially has two assets: a 45.34% Leviathan stake, substantially larger than the 39.66% of operator Chevron, and 30% of the 4.1tcf Aphrodite field. The latter is largely in Cypriot waters but partially extends over the maritime border with Israel. (CONTINUED - 890 WORDS)
