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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The company has drilled 6 exploratory wells to date And authentication in the holding area. most The boreholes reach a depth of about 4700 meters and the target layer is lattices from 4100 to 4700.
The company started producing 43API light oil from 2010 from the Meged 5 site, to date the company has produced about 1.250 million barrels, and the oil produced is transported by road tankers for storage and sale to the Paz refineries.
The company operates and maintains all environmental and conservation standards. In order to maintain the aquifer, we set up two groundwater monitoring wells. Also the outgoing gas, burns in a green torch to maintain air quality.
Givot Olam is almost uniqe among Israeli oil exploration companies, in that it is not based on massive investment of a small number of “tycoons”, but rather it belongs …
Investors are referred to the TA Stock Exchange where Givot Olam Partnership investment information can be found (in Hebrew)…