Oil drilling platform 370.
(photo credit: Lee Celano/Reuters)
As Israel enters a new era in petroleum exploration and discoveries, a
delegation of oil and gas firms is headed to the United States for roundtable
meetings with potential investors, the Economy Ministry announced on
The delegation members will fly to Houston on Monday to take part
in the Offshore Technology Conference, where they will participate in a seminar
on promoting investment and participation in Israeli exploration with leading
energy companies such as Chevron, Baker Hughes, FMC and Global Maritime, the
Among the Israeli delegates are representatives from Globe
Exploration, Delek Drilling, Israeli Opportunity, Avner Oil Exploration and
Isramco, who are also joined by officials from American firm Noble Energy, the
largest stakeholder in the Tamar and Leviathan offshore
Assembling the delegation was the initiative of the Economy
Ministry’s Foreign Trade Administration and its Investment Promotion Center, as
well as the Israel Chamber of Commerce, the Israel Association of Oil and Gas
Exploration Industries and the commercial attaches of the Economy Ministry in
Houston and New York.
After two days in Houston, the delegation will
continue on to New York, where the representatives will take part in an
investment seminar with Barclays investment bank, private investment funds,
hedge funds, analysts and other investors interested in oil and gas.
Israeli energy revolution has already begun, but in order to complete it, it
needs investment and partnership with international energy companies, such as
those in the US,” said Oded Distel, director of the Investment Promotion Center.
“After hearing about the Israeli companies’ need for investment and due to the
potential for finding additional discoveries, which aroused great interest among
international investors, we decided for the first time to host an event on
investing in the field of oil and gas.”
There has been a great demand to
attend the meetings both in Houston and New York, on the part of potential
investors and partners, Distel said.
Uri Aldubi, chairman of the
Association of Oil and Gas Exploration Industries, stressed that the hope is to
reach new audiences, increasing the awareness of Israel’s oil and gas business
potential among the international companies.
“The Israeli energy industry
broke boundaries in recent years, but in order to realize the full potential of
the energy latent in Israel and in the Levant basin in general, we must recruit
the knowledge, experience and capital that is currently found in international
companies,” Aldubi said.