Tamar Petroleum is an income-producing company, holding 16.75% of the rights in the Tamar and Dalit leases. In July 2017, the company raised bonds and equity from Israeli and international investors at a value of 980 million dollars, and trading of its securities commenced on the Tel Aviv Stock Exchange under the symbol TMRP.
In March 2018, the company acquired another 7.5% of the holdings in Tamar out of the share of Noble Energy.
Tamar Petroleum allows direct exposure to the cash flow of the Tamar reservoir, while allowing its investors opportunity to enjoy dividends distributed on a semi-annual basis.
Tamar – a reservoir of world-class quality
In March 2013, the State of Israel took a significant step on its path to energy independence with the start of the flow of natural gas from the Tamar Reservoir, just four years after its discovery in 2009. Following the development of the reservoir, the government took the decision to promote the use of natural gas to generate efficient and clean energy and reduce coal and oil distillate consumption. Today, Tamar supplies most of Israel’s natural gas consumption. During 2017, the reservoir also started to supply natural gas to the Dead Sea Works in Jordan.
The Tamar Reservoir is located some 90 km west of Haifa, at an overall depth of about 5,000 meters below sea level, and in waters that are about 1,700 meters in depth. The process of producing the gas is based on unique production wells, six in number, which allow for the production of approximately 1.1 billion cubic feet of natural gas per day. The Tamar development system has been built so as to produce redundancy, allowing the continuous supply of gas with minimal breakdowns. As a result, the Tamar reservoir is well-positioned in the global ranking, as it operates at availability in excess of 99%.
The face of the company
Since 2017, the year in which trading in its securities commenced on the Israeli Stock Exchange, Tamar Petroleum has been considered a significant player in the Israeli energy market. The company is managed by its CEO, Liami Vaisman, CFO Yuval Raikin, and General Counsel Efrat Hozeh-Azrad. The three have extensive academic education as well as a long track record in significant positions in the Israeli oil and gas sector.
Investing in the Tamar reservoir has exceptional advantages, with a stable cash flow heading the list. The increase in demand for natural gas in the Israeli economy and in the export markets has led to consistent growth in the cash flow. Based on the forecasts, the demand for natural gas is expected to continue to grow since the demand in the economy will only continue to rise exponentially. In addition, most contracts for the supply of gas from the Tamar reservoir are long-term contracts.