In late March 2019, Ratio Oil Exploration Ltd Partnership announced that Delek Drilling Ltd Partnership had exercised an option whereby Delek will acquire a 24.99% interest in the Royee (399) offshore exploration licence. Following receipt of necessary approvals, interests in Royee (399) will be Ratio Oil (45.01%), Delek Drilling (24.99%), Edison International SpA (20%, operator) and Israel Opportunity Oil & Gas Exploration Ltd Partnership (10%).  A new work programme for Royee (399) offshore exploration licence is understood to have been approved by the Petroleum Commissioner on 17 March 2019. The licence has been extended until 14 April 2020 on condition that a drilling contract is signed by 15 June 2019 and that exploration drilling in the licence commences no later than 30 September 2019. The well is expected to be drilled by the Ensco âDS-7â drillship. On 23 May 2017, the Minister of National Infrastructures, Energy and Water Resources approved a boundary change for the exploration licence. The revised licence covers an area of 399.1 sq km. No wells have previously been drilled on the acreage.  In late May 2017, the partners released a resources report for the Royee prospect in the Royee (399) licence. According to the report by NSAI, the prospect has best estimate potential resources of 3.4 Tcf of gas with low and high estimates of 2.0 Tcf and 5.5 Tcf respectively.
Israel, Royee (399)