Delek Installs Platform Offshore Israel

The Delek Group reports that the platform installation has been completed on the Mari-B natural gas field offshore Israel's southern Mediterranean coast. The field is estimated to contain approximately one trillion cubic feet of gas.

In the next phase of the Yam Thetis project, the gas well will be connected to the platform and a pipeline will be laid on the seabed to connect the platform to a power station belonging to state-owned Israel Electric Corp. Work to install the pipeline should be completed by mid-summer of 2003.

Samedan is the operator with a 47.1% interest; Delek Drilling holds at 25.5% interest, Avner Oil holds a 23% interest and Delek Investments holds the remaining 4.4%.