NewMed Energy Pursues Major Stake in Venezuelan Oil and Gas Assets

Israeli energy partnership NewMed Energy, controlled by billionaire Yitzhak Tshuva's Delek Group, is making a significant strategic move to expand its global operations. The company announced Tuesday, November 10, 2026, that it has entered into a mutual exclusivity letter and a detailed principles agreement to negotiate the acquisition of a controlling stake in a Venezuelan company holding onshore oil and gas assets.

Under the proposed deal, NewMed Energy would negotiate to purchase a 60% controlling interest in the target company. The Venezuelan firm's assets include proven onshore oil fields with existing producing wells, as well as additional onshore and offshore oil and gas assets that may be acquired or granted to the company by authorities before the deal's completion.

This potential transaction represents a crucial first step in NewMed Energy's long-term strategy to explore new business opportunities in South America. The company is actively examining other investment prospects across the continent and is in parallel negotiations with other regional energy firms.

The completion of the deal is contingent upon several conditions, including a comprehensive due diligence process, the signing of binding legal agreements, and the receipt of all necessary regulatory and governmental approvals. The mutual exclusivity period is set to last until January 1, 2027.

Niv Serna, CEO of NewMed Energy, stated that the company is continuously seeking opportunities to expand internationally and create value by leveraging its expertise in energy asset development. He added that the Venezuelan deal is the result of extensive evaluation and offers a significant opportunity for the partnership to broaden its operations into South America. For Delek Group and Yitzhak Tshuva, entering the South American market signifies an ambition to become a more prominent global energy player.