BREAKING NEWS

Delek submits bid for Cyprus oil, gas tender

By JPOST.COM STAFF

MAY 13, 2012 14:47

Delek Group Gas Subsidiaries ("Delek") on Sunday announced that it had submitted a proposal on Friday to participate in Cyprus' tender to acquire exploration and oil and natural gas production rights in Cyprus' maritime waters.

Delek submitted the proposal as part of a consortium comprising Avner Oil Exploration LP (12.5%), Delek Drilling LP (12.5%), Enel Trade S.p.A. (15%), Edison International S.p.A. (30%) and Woodside Energy Holdings Pty Ltd. (30%).

The government is not expected to announce the winner of the bidding process before the fourth quarter of 2012.

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