Gideon Tadmor (PR photo)
The Israeli energy partnerships Gideon Tadmor’s Ratio Petroleum and Navits have agreed on a license and exploration SC76 of Ratio Petroleum in the Philippines and rights in the Dahla Atlantic block.
Following the signing of the agreement, Navits and Ratio intend to conduct a three-dimensional seismic survey in the Philippines in the coming year to identify potential prospects for drilling and to continue the research and work program in Morocco. The parties also agreed on exclusive cooperation in the fields of energy in these countries.
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In accordance with the terms of the agreement, Ratio Petroleum will hold 70% of the rights in each of the territories and will serve as operator and Navits with 30% of the rights.
Block SC76 in the Philippines is located east of the island of Palawan, on an area of about 6,480 square kilometers at water depths ranging from 900-1,700 meters while the Dakhla Atlantique block in Morocco is located in southern Morocco, along the Atlantic coast and the total area of the block is over 109 One thousand square kilometers (equivalent to more than 270 sea search licenses in Israel), at water depths ranging from shallow water to over 3,000 meters.
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