OUR STRATEGY
STRATEGIC PRINCIPLES
FOCUS ON E&P & DIVESTMENT OF NON-CORE ASSETS
With a focus on transitioning from a diversified conglomerate to become an E&P pure play, since 2014 we have been divesting the company’s non-core assets. To date, we have redeployed the USD 1.3 billion generated from these sales to reduce our leverage and increase our capital reserves, and now we are focused on divesting our last non-energy assets: Phoenix Holdings Ltd., an insurance company, and IDE Technologies, a water desalination company.
DEVELOP OUR EAST MED ASSETS
As the East Med’s leading player, we are focused on: 1) Leviathian: completing development with the goal of producing first gas by the end of 2019, coupled with continued marketing of its natural gas to additional off-takers in the domestic and export markets; 2) Tamar: continued optimal production and marketing of its natural gas, evaluation of expansion alternatives, and examination of the geological potential of its deep targets; 3) Aphrodite: evaluating its development; and 4) Optimization of infrastructure: examining alternatives for creating the optimum infrastructure for export of natural gas to the various target markets.
EXPAND INTERNATIONALLY
Our strategy calls for the responsible, timely pursuit of E&P opportunities in international fields. These activities benefit from the expertise we have developed through our East Med activities, our financial strength and our ability to act nimbly in dynamic markets. We have completed the acquisition of 100% of Ithaca Energy, giving us significant operational capabilities. In addition, we continue evaluating numerous further opportunities in the North Sea and North America.
POSITIONED TO CREATE VALUE
Our goal is to translate our exceptional positioning in the East Med, proven project execution capabilities, financial strength and ‘nimble DNA’ into significant value for our shareholders.
We are dedicated to transforming Delek Group into a world-class E&P company with exceptional operational capabilities.
NEAR-TO-MIDTERM OBJECTIVES
- Complete the divestment of our non-E&P assets (excluding Delek Israel)
- Promote, develop and lead the development of the Levant Basin into a regional energy hub, including:
- Development of the East Med natural gas export plan
- Creation of relationships with regional players in Egypt, Jordan and Turkey
- Carrying out further regional exploration and development activities
- Evaluate additional opportunities for diversifying geographically
NON-CORE ASSETS
PHOENIX
IDE
DELEK INDEPENDENT POWER PLANTS (IPP)
SUGGESTED LINKS
STRATEGY
Delek’s strategy is to complete the divestment of its non-core assets and to become an international E&P pure-play.
HISTORY
Founded in 1951, Delek is evolving to become an international E&P pure play.