Operations

The Israeli Oil Partnership will invest NIS 6.1 million in production drilling, according to its relative share in the reservoir (7.5%); drilling will begin next year

The Oil Exploration Partnership estimates that its flagship reservoir, Shenandoah, will generate USD 1.1 billion in revenue in its first year of production (2025). Since March this year, the partnership led by Tadmor, a former executive with Yitzhak Tshuva's Delek Group, has doubled in value to approximately NIS 3 billion

The oil and gas partnership published quarterly reports and updates on the progress of two of its huge projects - Production of oil at the Shenandoah project is expected to begin at the end of next year, and Navitas will announce its final investment decision in Monument next month

The net profit almost tripled; Shenandoah's progress continues alongside Buckskin development; The partnership is expected to receive a final investment decision (FID) for the development of the Monument Reservoir adjacent to the Shenandoah Reservoir

With the start of production from Shenandoah, the partnership expects the annual revenue to jump up to 1.14 billion dollars, assuming an oil price of about 78 dollars per oil barrel. The partnership's revenue last year was 120 million dollars

In the third quarter, the oil partnership's net profit increased by 60%; since the beginning of the year, the profit has increased by 200%.

Gideon Tadmor's Israeli oil and gas partnership will join the Monument reservoir, $300 million has already been invested in its development; Navitas will pay $12 million for 20% of the asset, and it is expected to generate $20 million annually.

Navitas Petroleum will invest $900 million in developing the Gulf of Mexico oil reserve.