Israel’s Delek examines offshore Canada

12 Nov 2016   Canada, Israel

Israeli conglomerate Delek Group confirmed it secured the rights to explore for reserves in the deep waters off the coast of Newfoundland. Delek Group said it secured the rights to explore an area covering about 1,000 square miles off the eastern coast of Canada, where waters are about eight-tenths of a mile deep. “With regard to the West Orphan geological basin, where Block 7 among others is located, independent resource assessment identifying the in place resource potential of 25.5 billion barrels of oil and 20.6 trillion cubic feet of gas,” the company said in a statement. The Canada-Newfoundland and Labrador Offshore Petroleum Board said this week it took in just over $382 million in work commitments for work off the eastern […]

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