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    Globes: Tshuva Meets Cypriot President to Discuss Aphrodite

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Summary

Cypriot President Nicos Anastasiades has met with the controlling shareholder, Delek Group, Yitzhak Tshuva to discuss matters in the Aphrodite gas field

by: Erica Mills

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Globes: Tshuva Meets Cypriot President to Discuss Aphrodite

Cypriot President Nicos Anastasiades, currently visiting Israel for a series of meetings with President Reuven Rivlin and Prime Minister Benjamin Netanyahu, met last night with Delek Group Ltd. (TASE:DLEKG) controlling shareholder Yitzhak Tshuva in order to promote the development of the Aphrodite natural gas reservoir, located in Cypriot waters.

Located in Block 12, Aphrodite,which contains 4.54 trillion cubic feet (TCF) of natural gas and nine million barrels of natural gas condensate, is Cyprus's only gas reservoir. Aphrodite is owned byDelek Drilling Limited Partnership (TASE: DEDR.L) (15%), Avner Oil and Gas LP (TASE: AVNR.L) (15%), and Noble Energy (70%). Delek Group reported only two weeks ago that it was in preliminary negotiations to acquire 19.9% of Noble Energy's stake in the reservoir, and the partners last week submitted their development program for it to the Cypriot government.

Read the full article HERE.

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