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From the CEO

//From the CEO
From the CEO 2017-10-03T10:42:46+00:00

FROM THE CEO

Delek Group is one of Israel’s strongest and most established businesses. Following decades of activities within Israel, Delek Group expanded to become a global entity and to spearhead the search for oil and natural gas in the Levant Basin in the East Med. With a long track record of success, Delek Group has demonstrated an ability to flourish in both favorable and challenging business environments.

With initiative, innovation and vision, we have transformed Delek Group
into Israel’s leading energy company.

In the 1990s, as one of Israel’s strongest businesses, we set out to change Israel’s energy landscape. Since then, we have succeeded beyond our most ambitious dreams.

ASAF BARTFELD, PRESEDENT & CEO

With initiative, innovation and vision, we have transformed Delek Group into Israel’s leading energy company: the pioneering spirit behind the East Med E&P revolution and a senior partner in all of the significant gas discoveries made offshore Israel and Cyprus. These efforts have created a fundamental change in Israel’s energy standing, transforming it from dependence upon external energy resources to become an energy-independent nation and even an energy exporter.

Our persistent energy exploration efforts over the past two decades have exceeded beyond our most ambitious dreams, resulting in a number of major discoveries of natural gas reservoirs in the Mediterranean Sea off Israel’s coast. The most important of these are Tamar, an 11.2 TCF reservoir that has been under production since 2013, and the 21.4 TCF Leviathan, one of the world’s largest gas discoveries of the 2000s, which is currently under development. Our natural gas discoveries have supplied a continually growing portion of Israel’s local energy needs since 2004, and we have now begun supplying natural gas to additional countries throughout the East Med.

The experience and capabilities that we have gained through the full range of our activities in the East Med, including our proven ability to develop and finance mega-energy projects, is serving us well as we expand into additional E&P assets in the North Sea and North America. Delek Group has a diverse, high-quality portfolio of natural gas and oil assets in various stages of exploration, development and production.

The experience and capabilities that we have gained through the full range of our activities in the East Med, including our proven ability to develop and finance mega-energy projects, is serving us well as we expand into additional E&P assets in the North Sea and North America. Delek Group has a diverse, high-quality portfolio of natural gas and oil assets in various stages of exploration, development and production.

Recently, we refocused our strategy in order to transform Delek Group from a diversified conglomerate into a leading international energy company. To this end, we have been systematically divesting all non-energy-related assets to enable a sharp focus on our core energy activities. Since 2014, these efforts have added USD 1.3 billion to our cash balance, helping us reduce the Group’s financial leverage while enabling investment in additional strategic growth opportunities in the international E&P arena.

The Group’s proven business leadership and industry expertise have been the keys through which we have been able to flourish and to create value, as demonstrated by our excellent results and ongoing dividend distributions.

All of these are helping us as we continue pursuing our goal of establishing Delek Group as a strong and leading international E&P player with the ability to explore, develop and produce a high-potential portfolio of assets in the East Med, North Sea, North America and beyond.

 

Asaf Bartfeld
President & CEO

September 2017

SUGGESTED LINKS

WHO WE ARE

Delek is an independent E&P and the pioneering visionary behind the development of the East Med.

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STRATEGY

Delek’s strategy is to complete the divestment of its non-core assets and to become an international E&P pure-play.

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HISTORY

Founded in 1951, Delek is evolving to become an international E&P pure play.

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