NewMed Energy
Israeli upstream natural gas company, spun out of Delek Drilling in 2022. Largest single Israeli working interest in the Leviathan field. Subject of a 2023 BP/ADNOC acquisition announcement targeting a controlling stake.
NewMed Energy is an Israeli upstream natural gas company, formed in 2022 from the reorganization of Delek Drilling into a pure-play exploration and production vehicle. The company is listed on the Tel Aviv Stock Exchange.
NewMed holds the largest single Israeli working interest in the Leviathan field — Israel's flagship offshore gas discovery and the resource base that has anchored Israeli energy exports to Egypt, Jordan, and (via LNG) European markets. The company additionally holds interests in the Aphrodite field offshore Cyprus and other EastMed exploration acreage.
In a 2023 transaction announcement, BP entered into agreement to acquire a controlling stake in NewMed alongside Abu Dhabi National Oil Company (ADNOC), which would have created a single major-led East Mediterranean gas operator. The transaction faced regulatory and structural complications; the regional gas-export ambition it codified — bringing East Med gas reliably into European LNG and pipeline markets — remains the company's strategic frame.