Strategic Vision in Frontier Markets
Following the successful Leviathan discovery, Ratio Petroleum emerged in 2011 with a bold vision. Under the geological expertise of Eitan Eisenberg, who serves as Senior VP of Exploration and Production, the company has positioned itself as a pioneer in unexplored energy frontiers. This strategy mirrors their earlier success in the Levant Basin, where they participated in game-changing discoveries.
Breakthrough in Guyana’s Prolific Basin
The company’s strategic approach proved particularly successful in the Guyana Basin, now recognized as one of the world’s hottest energy exploration regions. Since 2015, this basin has yielded over 10 billion barrels of recoverable oil across more than 20 discoveries. Ratio’s presence in this promising region led to the Tanager-1 discovery in early 2021, containing an estimated 65 million barrels of oil.
Global Portfolio Expansion
Today, Ratio Petroleum’s exploration rights span three distinct basins worldwide: the Guyana Basin, the Morocco Atlantic Basin, and the East Palawan Basin in the Philippines. With exploration rights covering approximately 130,000 square kilometers, the company continues to seek new investment opportunities globally. Their partnerships with industry giants like ExxonMobil, Hess, and ONHYM demonstrate their credibility in the international energy sector.
Recent Developments and Future Prospects
The company has shown remarkable adaptability in recent years, making strategic moves across multiple jurisdictions. In 2023, Ratio Petroleum assumed the role of operator in the Kaieteur block in Guyana following the exit of ExxonMobil and Hess. More recently, in 2024, they successfully negotiated the transfer of 35% of their Philippines rights to Prime Oil and Gas, demonstrating their ability to forge local partnerships.
Listed on the Tel Aviv Stock Exchange since 2017, Ratio Petroleum has established itself as a significant player in the global energy exploration landscape. Their presence in multiple promising basins, combined with their strategy of targeting frontier markets, positions them well for future discoveries and growth in the evolving energy sector.