Premier Oil is Delek Energy's new partner in Vietnam prospect

Sep 07, 2004 02:00 AM

Delek Vietnam, a subsidiary of Delek Energy Systems and the Delek Group, owned by Yitzhak Tshuva, unveiled the identity of its new oil exploration partner in Vietnam: British company Premier Oil.
In May of this year, Delek Energy announced that its main partner in Vietnam, Samedan Oil Corporation, which is also its partner for natural gas exploration in Israel, was expected to sell its share in the Vietnamese project to a foreign company. At the time, Delek Energy did not identify the new partner.

Delek Energy also announced that the Vietnamese government had given Premier Oil permission to buy the rights held by Samedan Oil, which had had a 75 % stake in the project. Delek Energy owns the remaining 25 %.
To date, neither oil nor gas has been discovered at the Vietnamese prospect managed by Samedan and Delek.

Source: Globes
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