NewMed Energy
NewMed Energy is Israel's leading energy partnership focused on offshore natural gas exploration, development, and production in the Eastern Mediterranean. It holds 45.34% of Leviathan, the Mediterranean's largest gas field, exporting to Egypt, Jordan, and the region.
- Company typePublic
- Founded1993
- HeadquartersHerzliya, Israel
- Headcount51–100
- GTM typeB2B
- OfferingServices
NewMed Energy firmographics
Firmographics- Name
- NewMed Energy
- Legal name
- NewMed Energy – Limited Partnership
- Website
- https://newmedenergy.com
- Company type
- Public
- Founded year
- 1993
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- NewMed Energy is Israel's leading energy partnership focused on offshore natural gas exploration, development, and production in the Eastern Mediterranean. It holds 45.34% of Leviathan, the Mediterranean's largest gas field, exporting to Egypt, Jordan, and the region.
- Ownership category
- akta.pro rank
NewMed Energy industry classification
Industry- Product category
- Natural Gas Exploration and Production
- NAICS
- Fuel Dealers (45721), Pipeline Transportation of Refined Petroleum Products (486910)
- SIC
- Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382), Oil & Gas Field Services, Nec (1389)
- akta.pro primary industry
- Production Operations & Artificial Lift (Surface Facilities, Compression, Flow Assurance) (EUAAAAAK)
- akta.pro secondary industries
- Oil & Gas Facilities Asset Management (Refining/Terminals/LNG) (EUAEAMAG), Natural Resources — Energy & Mineral Resources (FSAAAKAJ), Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG)
Keywords
Where NewMed Energy is headquartered
LocationHeadquarters
- HQ city
- Herzliya
- HQ country
- Israel
- HQ region
- Middle East
Offices1 record
Markets served
NewMed Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D
Revenue model
- Natural Gas Sales: NewMed Energy generates revenue primarily from the sale of natural gas produced from the Leviathan field. Gas is sold under long-term contracts to domestic Israeli customers (Israel Electric Corporation, industrial users) and regional export customers (Egypt, Jordan). Contracts typically feature take-or-pay provisions ensuring minimum revenue. The landmark $35 billion agreement with Egypt for 130 BCM over 15 years represents the largest export transaction in Israel's history.
- Condensate Sales: Alongside natural gas production, NewMed Energy sells condensate extracted from the gas fields. Condensate is sold to refineries and petrochemical companies. The company has established agreements with companies like Ashdod Refinery for condensate offtake.
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
NewMed Energy product offering
Product offeringCore offering
NewMed Energy is Israel's leading energy partnership engaged in the exploration, development, production and sale of natural gas and condensate from offshore reservoirs in the Eastern Mediterranean. The company holds a 45.34% working interest in the Leviathan field, the largest gas reservoir in the Mediterranean, and a 30% interest in the Aphrodite field in Cyprus EEZ. It sells gas domestically to the Israel Electric Corporation and industrial users, and exports under long-term contracts to Egypt (130 BCM over 15 years, ~$35 billion), Jordan via NEPCO, and other regional customers.
Product overview
NewMed Energy is an Israeli energy partnership (formerly Delek Drilling) focused on the exploration, development, production and sale of natural gas and condensate in the Eastern Mediterranean. The company operates a portfolio of producing and development-stage assets anchored by the Leviathan field (45.34% stake, Mediterranean region), the Aphrodite field in Cyprus (30% stake), and various exploration licenses in Israel, Morocco, and Bulgaria. A $2.36 billion expansion of Leviathan Phase B is underway to increase production capacity to 21 bcm annually by 2029. The company has pivoted toward diversification through alternative energies including hydrogen production and carbon capture and storage, while continuing regional gas exports to Egypt, Jordan, and UAE under long-term agreements totaling approximately $35 billion. The portfolio spans production assets, development projects, and exploration opportunities.
Differentiator
Problem solved
Functional benefit
Products and services
- Leviathan Natural Gas Field
- Leviathan Phase B Expansion
- Aphrodite Natural Gas Field
- Alternative Energies (Hydrogen, CCS, Renewables)
Quantifiable outcome
- 70% reduction in pollutant emissions from power generation in Israel from 2013-2020 due to natural gas transition
- +5 more outcomes
Companies that use NewMed Energy
Customer profileNamed customers7 records
Segments2 records
Ideal customer profiles2 records
NewMed Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
NewMed Energy partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered exploration, strategic and core.
- OMV Offshore BulgariaexplorationNewMed Energy Balkan partnered with OMV Offshore Bulgaria and Bulgarian Energy Holding EA to explore the Krum-1 well in the Black Sea. The well was drilled but found no significant gas volumes, with the partnership continuing to analyze results and costs.
- SOCAR (Azerbaijan State Oil Company)strategicSOCAR partnered with NewMed Energy (33.33%) and BP (33.33%) in a Joint Bidding Agreement for the 4th Offshore Bidding Round (OBR4), awarded six exploration licenses in Cluster I within Israel's EEZ. SOCAR acts as the designated operator. Licenses are adjacent to the producing Leviathan field.
- BPstrategicBP partnered with NewMed Energy (33.33%) and SOCAR (33.33%) in a Joint Bidding Agreement for the 4th Offshore Bidding Round (OBR4), awarded six exploration licenses in Cluster I within Israel's EEZ. The partnership leverages BP's global upstream expertise and NewMed Energy's regional knowledge.
- Enlight Renewable Energy LtdstrategicNewMed Energy signed detailed agreements with Enlight Renewable Energy and the CEO to enter the renewable energy sector. NewMed is exploring and investing in major renewable energy projects in attractive regions globally, leveraging its knowledge, capabilities, and regional market relationships.
- Adarco EnergyexplorationNewMed Energy signed agreements with Adarco Energy and Morocco's National Office of Hydrocarbons and Mines (ONHYM) to explore the Boujdour Atlantique license off Morocco's Atlantic coast. NewMed holds 37.5%, Adarco 37.5%, and ONHYM 25%. First exploration well scheduled approximately 2.5 years after license grant.
- Mubadala Petroleum (Abu Dhabi)strategicNewMed Energy sold its holdings in the Tamar reservoir to Mubadala Petroleum of Abu Dhabi in December 2021 for approximately $1 billion, marking the largest transaction between Israeli and UAE companies following the Abraham Accords normalization agreements.
- Government of CypruscoreThe Government of Cyprus granted the Aphrodite partners a 25-year production license (with option to extend 10 years) and approved the outline for field development. The Cypriot government continues to support negotiations between Aphrodite partners and Egypt for gas export arrangements.
- Egyptian East Gas CompanycoreNewMed Energy, together with Chevron and Egyptian East Gas Company, acquired control of the EMG pipeline connecting Egyptian and Israeli transmission systems. This ensures implementation of the export contracts to Egypt and provides infrastructure for regional gas trade.
- Chevron (Chevron Mediterranean Limited)coreChevron operates the Leviathan gas field and holds approximately 39.66% working interest. NewMed Energy (45.34%) and Ratio Energies (15%) are the other partners. Together they approved the $2.36 billion FID for Leviathan expansion in January 2026. Chevron also partners on the Aphrodite field in Cyprus (35% stake). The partnership represents the operational backbone of NewMed Energy's core business.
- ShellcoreShell holds 35% working interest in the Aphrodite gas field in Cyprus EEZ alongside NewMed Energy (30%) and Chevron (35%). The partnership is advancing development plans including FEED studies with planned floating production facility and subsea pipeline to Egypt. FID expected in 2027, with first gas anticipated in 2031.
- Ratio EnergiescoreRatio Energies holds 15% working interest in the Leviathan gas field as the third partner alongside NewMed Energy (45.34%) and Chevron (39.66%). Ratio is an Israeli energy company focused on natural gas exploration and production in the Eastern Mediterranean.
Scale indicators13 records
Recent moves9 records
Expansion highlights6 records
NewMed Energy competitors and assessment
Company assessmentRegional players
- SOCAR (State Oil Company of Azerbaijan Republic): Azerbaijani state oil company and designated operator of Cluster I exploration licenses in Israel alongside NewMed and BP (33.33% each). Comparable as a regional state-aligned upstream operator expanding into the Eastern Mediterranean.
- Mubadala Petroleum: Abu Dhabi-based national petroleum company that acquired NewMed's Tamar reservoir stake in 2021 for ~$1B. Comparable as a regional Gulf-based upstream investor active in Israeli gas assets.
Broad incumbents
- Shell plc: Global IOC holding 35% of the Aphrodite field in Cyprus alongside NewMed and Chevron. Comparable as a partner in NewMed's development pipeline and a major global upstream player with Eastern Mediterranean interests.
- Eni S.p.A. Italian IOC operating the Zohr gas field offshore Egypt, the largest gas field in the Mediterranean before Leviathan. Directly relevant as a Mediterranean gas producer and a key regional counterparty for Egyptian LNG exports.
- BP plc: Global IOC partnered with NewMed Energy and SOCAR in Cluster I exploration licenses in Israel's EEZ (33.33% each). Relevant as a strategic exploration partner and global upstream major.
- Chevron Corporation: Global IOC operating the Leviathan field (39.66% interest) and partnering in Aphrodite (35%). Comparable as a partner and major upstream operator with overlapping Mediterranean exposure and broader global upstream portfolio.
Others
- Delek Group: Controlling shareholder of NewMed Energy, an Israeli conglomerate with energy, fuel retail, and financial services operations. Relevant as the parent group and an indicator of broader strategic alignment.
- Egyptian Natural Gas Holding Company (EGAS): Egyptian state gas company and largest contracted buyer under the $35B / 130 BCM export agreement with NewMed and partners. Relevant as the key offtake counterparty and a major regional gas player.
Direct peers
- Energean: London-listed E&P company operating the Karish-Tanin gas fields offshore Israel, acquired from NewMed/Delek Drilling in 2016. Directly comparable as a regional Mediterranean gas producer serving the same Israeli and regional customers.
- Ratio Energies: Israeli natural gas exploration and production company holding 15% of the Leviathan field alongside NewMed Energy and Chevron. Comparable as a direct co-partner and Israeli-listed Eastern Mediterranean gas player.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
NewMed Energy social profiles
Digital presenceNewMed Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
NewMed Energy leadership team
Management profileNumber of profiles
Profiles1 record
NewMed Energy subsidiaries and ownership
Company hierarchySubsidiaries3 records
NewMed Energy funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NewMed Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NewMed Energy
What does NewMed Energy do?
NewMed Energy is Israel's leading energy partnership engaged in the exploration, development, production and sale of natural gas and condensate from offshore reservoirs in the Eastern Mediterranean. The company holds a 45.34% working interest in the Leviathan field, the largest gas reservoir in the Mediterranean, and a 30% interest in the Aphrodite field in Cyprus EEZ. It sells gas domestically to the Israel Electric Corporation and industrial users, and exports under long-term contracts to Egypt (130 BCM over 15 years, ~$35 billion), Jordan via NEPCO, and other regional customers.
Is NewMed Energy a public or private company?
NewMed Energy is a public company. It is classified as public and is currently operating.
When was NewMed Energy founded?
NewMed Energy was founded in 1993. It employs 51 to 100 people.
Where is NewMed Energy based?
NewMed Energy is headquartered in Herzliya, Israel, in the Middle East region.
How does NewMed Energy make money?
Two revenue lines are on record. Natural Gas Sales are the primary driver. The others are condensate Sales.
Who are NewMed Energy's main competitors?
Regional players on record are SOCAR (State Oil Company of Azerbaijan Republic) and Mubadala Petroleum. Broad incumbents are Shell plc, Eni S.p.A., BP plc and Chevron Corporation. Others are Delek Group and Egyptian Natural Gas Holding Company (EGAS). Direct peers are Energean and Ratio Energies.
Does NewMed Energy have an API?
No public API is recorded for NewMed Energy.
What industry is NewMed Energy in?
NewMed Energy's product category is Natural Gas Exploration and Production. Its primary akta.pro industry code is EUAAAAAK, Production Operations & Artificial Lift (Surface Facilities, Compression, Flow Assurance), with a secondary code of EUAEAMAG, Oil & Gas Facilities Asset Management (Refining/Terminals/LNG). Its NAICS code is 45721 and its SIC code is 1311.