Givot Olam

Givot Olam Oil Exploration - Limited Partnership (1993) is a limited partnership that is traded on the Tel Aviv stock exchange. The partnership operates in the Oil and Gas Exploration and it has been issuing participation units since 1993.

The partnership was granted an oil exploration license near Rosh Ha'Ayin, over a 240 sq. km area. A number of wells have been drilled in this license area: Meged 2, Meged 3, Meged 4, Meged 5 and Meged 6.

In 2004, in light of data from Meged 4, and based on analyses and extensive geological modeling that were performed on the reservoir, the partnership received a lease for development of the Meged oil field from the Petroleum Commissioner of the Ministry of National Infrastructures, Energy and Water.

In 2009 the Meged 5 well was drilled and commercial quantities of high quality crude oil (API 39-40) were produced. Production started in 2011 and continues until today.

Cumulative production from Meged 5 is 700,611 barrels (approx. 110,681 m3) as of 31.03.2015.

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