Company Overview

NewMed Energy – Limited Partnership is an Israel-based energy exploration and production partnership focused on the discovery, development, and production of natural gas and associated hydrocarbons. The company operates primarily in the upstream energy sector, with a strategic emphasis on offshore natural gas assets in the Eastern Mediterranean. Its core revenue is generated from the sale of natural gas under long-term contracts to utilities, industrial customers, and regional energy markets.

Originally established in the early 1990s as Avner Oil Exploration, the partnership later became Delek Drilling and was rebranded as NewMed Energy in 2022 to reflect its transition toward broader regional energy development and sustainability-oriented gas infrastructure. The company is best known for its role in the discovery and development of Israel’s largest offshore gas fields, which fundamentally reshaped the country’s energy independence and export capabilities.

Business Operations

NewMed Energy’s operations are centered on its participation in large-scale offshore natural gas reservoirs, most notably its significant working interest in the Leviathan Gas Field, one of the largest deepwater gas discoveries globally in the past two decades. Revenue is primarily derived from gas production and sales through long-term, take-or-pay contracts linked to regional energy demand in Israel, Jordan, and Egypt.

The partnership operates through licenses and joint ventures rather than direct operatorship, collaborating with international energy companies for development and production. Its assets include reserves, production infrastructure, subsea pipelines, and gas processing arrangements. Operations are predominantly offshore, with limited onshore infrastructure, and are subject to Israeli energy regulation and export frameworks.

Strategic Position & Investments

Strategically, NewMed Energy positions itself as a cornerstone supplier of natural gas in the Eastern Mediterranean, prioritizing stable cash flows, reserve development, and regional export growth. The partnership’s strategy emphasizes maximizing value from existing producing assets while selectively investing in exploration upside and regional energy infrastructure that supports cross-border gas trade.

Key investments include its material stake in the Leviathan Gas Field, alongside interests in other Israeli offshore licenses. NewMed Energy has also explored expansion into adjacent Mediterranean basins and evaluates opportunities tied to energy transition themes, such as gas-to-power, carbon efficiency improvements, and potential future integration with low-carbon technologies. Public disclosures indicate no material diversification outside hydrocarbons as of the latest reporting periods.

Geographic Footprint

NewMed Energy’s operational footprint is concentrated in the Eastern Mediterranean, with offshore assets located within Israel’s exclusive economic zone. Its commercial reach extends across Israel, Jordan, and Egypt, where Israeli gas is exported via regional pipeline networks and liquefaction facilities.

The partnership does not maintain significant upstream operations outside this region but exerts international influence through cross-border energy agreements and export-linked investments. Corporate headquarters and primary management functions are based in Israel, aligning governance and regulatory oversight with Israeli capital markets and energy authorities.

Leadership & Governance

NewMed Energy operates as a publicly traded limited partnership governed by a general partner structure common to Israeli energy partnerships. Leadership emphasizes disciplined capital allocation, long-term contracts, and regional cooperation to support energy security and shareholder returns. Governance practices align with Israeli securities regulation and partnership reporting standards.

Key executives include:

• Yossi Abu – Chief Executive Officer
• Guy Maman – Chief Financial Officer
• Eran Hever – Vice President, Exploration & Development
• Liron Barak – Vice President, Commercial & Business Development

The leadership team has been closely associated with the development of Israel’s offshore gas sector and maintains a strategic vision focused on regional integration, operational reliability, and long-term resource monetization.