Delek Drilling changes its name to NewMed Energy, and announces a strategic restructuring, deepening of the operating areas into alternative energy segments, including production of hydrogen, promotion of carbon capture, and investment in renewable energy, alongside operation and expansion of existing projects, exploration for natural gas in new areas for the Partnership, and integration of ESG and transparency principles in the spirit of the modern Western investment environment.
About NewMed Energy
NewMed Energy is Israel’s leading energy partnership in the exploration, development, production and sale of natural gas and condensate.
The partnership previously named “Delek Drilling” is a subsidiary of the Delek Group.
NewMed Energy operates mainly in the Eastern Mediterranean, initiated the natural gas sector in Israel, and made history with its unprecedented agreements with Egypt, Jordan and the UAE which strengthened peace and increased stability in the Middle East. NewMed Energy has been a key partner in all of the gas discoveries made in the last thirty years in Israel’s EEZ, and in the first natural gas discovery made in Cyprus’s EEZ.
Currently holding 45.34% of the Leviathan Reservoir, the largest gas reservoir in the Mediterranean, the Leviathan gas production serves as a key source of energy for the State of Israel and the countries of the region.
In accordance with its strategic policy, in the coming years NewMed Energy will invest in the development of new technologies to produce energy from alternative sources: producing blue hydrogen alongside carbon capture, promotion of renewable energy projects, and more.