Modiin Energy LP () is a publicly traded company engaged in oil and gas exploration in Israel. It is listed on the TA MidCap 50 Index as well as on the TA Oil and Gas Index of the

Tel Aviv Stock Exchange The Tel Aviv Stock Exchange (TASE; ), colloquially known as The Bursa, is the only public stock exchange in Israel and a public company itself, listed on its own exchange since August 1, 2019. It is regulated by the ''Securities Law (1968)'' a ...

. The company owns rights to drilling licenses in various locations throughout Israel and in Israel's maritime

exclusive economic zone An exclusive economic zone (EEZ), as prescribed by the 1982 United Nations Convention on the Law of the Sea, is an area of the sea in which a sovereign state has exclusive rights regarding the exploration and use of marine natural resource, reso ...

Background

The Modiin Energy limited partnership was established in 1992 as part of an agreement between Modiin Energy Management (1992) Ltd. and Modiin Energia Neemanut Ltd. 16.94% of the partnership is controlled by IDB Development Corporation, a privately held investment arm of IDB Holdings.

Portfolio

Gabriella

The Gabriella drilling site, officially designated 378, is located 10–15 kilometers off the shores of

Tel Aviv Tel Aviv-Yafo ( or , ; ), sometimes rendered as Tel Aviv-Jaffa, and usually referred to as just Tel Aviv, is the most populous city in the Gush Dan metropolitan area of Israel. Located on the Israeli Mediterranean coastline and with a popula ...

. It encompasses an area of 390 km² and is held jointly by three companies. Modiin owns rights to 70% of the license, Adira Energy Israel Ltd. owns 15%, and Brownstone Energy Inc. owns the remaining 15%. In September 2011, Adira Energy published results of a three-dimensional seismic survey of the area, conducted by

Colorado Colorado is a U.S. state, state in the Western United States. It is one of the Mountain states, sharing the Four Corners region with Arizona, New Mexico, and Utah. It is also bordered by Wyoming to the north, Nebraska to the northeast, Kansas ...

-based geological consultancy firm Gustavson Associates LLC. The survey estimated the license to contain of natural gas, as well as of oil. Modiin Energy has said it intends to commence drilling operations at Gabriella by the end of 2012.

Sarah and Myra

The

Sarah and Myra Sara (or Sarah) and Myra (or Mira) () were two Israeli offshore drilling licenses located west of Netanya, Israel. The licenses expired on July 13, 2015. Exploratory drilling in the license area in 2012 was unsuccessful, but seismic studies ind ...

sites, officially designated 348 and 347, respectively, are located 70 kilometers off the shores of

Hadera Hadera (, ) is a city located in the Haifa District of Israel, in the northern Sharon plain, Sharon region, approximately 45 kilometers (28 miles) from the major cities of Tel Aviv and Haifa. The city is located along 7 km (5 mi) of ...

. Their area totals 800 km² and are jointly held by eight companies, with Modiin's stake coming to 19.282%. In June 2011, the licensees published results of a three-dimensional seismic survey of the area, conducted by Netherland, Sewell & Associates Inc. The survey estimated the licenses to contain of natural gas, as well as of oil. Modiin has anticipated that drilling operations at Sarah and Myra will commence in the first quarter of 2012.

Yam Hadera

The Yam Hadera site, officially designated 383, is located 30 kilometers off the shores of

. It covers 400 km² and is held exclusively by Modiin Energy LP. In December 2011 Modiin published the results of a three-dimensional seismic survey of the area, conducted by Netherland, Sewell & Associates Inc. The survey gave a best estimate of 1.4 TCF of natural gas, as well as 130 million barrels of oil. Modiin anticipates that drilling operations at Yam Hadera will commence by June 2012.

Zurim

The Zurim site, officially designated 327, is located southwest of the

Dead Sea The Dead Sea (; or ; ), also known by #Names, other names, is a landlocked salt lake bordered by Jordan to the east, the Israeli-occupied West Bank to the west and Israel to the southwest. It lies in the endorheic basin of the Jordan Rift Valle ...

. It encompasses an area of 335 km² and is jointly held by two companies. Zerah owns 85% of the license and Modiin owns the remaining 15%. After the Nature and Parks Authority indicated in August 2011 that it would not authorize drilling new wells at Zurim, Zerah and Modiin petitioned the Petroleum Commissioner to modify the terms of the license so as to approve a

workover The term workover is used to refer to any kind of oil well well intervention, intervention involving invasive techniques, such as wireline (cabling), wireline, coiled tubing or snubbing. More specifically, a workover refers to the expensive proc ...

on an already-existing well, Halamish-1, which had been abandoned in 1995. Modiin notified the Tel Aviv Stock Exchange on 25 September that the commissioner had rejected the Halamish proposal.

References

{{Reflist, 2 Companies listed on the Tel Aviv Stock Exchange Non-renewable resource companies established in 1992 Oil and gas companies of Israel