Meged oil field

In 2004 the Meged oil field was recognized as an oil discovery by the Ministry of National Infrastructures, Energy and Water. Givot Olam partnership was awarded a lease for the development of the oil field and for production of oil from it: the Rosh Ha’Ayin Lease I/11. The lease is 243 square kilometers in size, and is valid until 1.4.2032, with the option of extending the lease for an additional 20 years. The Givot Olam Partnership has a 99% holding in this lease.

The Partnership holds an additional oil exploration license in the southern section of the Meged oil field. This license, Maccabi 330, which is 110 square kilometers in size, is held exclusively by Givot Olam Partnership (100% holding).

The crude oil is produced to the surface with natural reservoir pressure from a Triassic carbonate structure at a depth of more than 4 km below the surface. The crude oil is produced together with associated petroleum gas, and the two streams are separated in surface facilities. Givot Olam Partnership has a gas sales agreement with Gatal, although the requisite conditions are not yet in effect for operation.

The schematic below illustrates the anticlinal structure of the oil reservoir in the subsurface. The Mohilla C formation forms an anhydritic top seal, and fossilic waters below the hydrocarbons serve as the lower boundary of the reservoir

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