JACKY BEN ZAKEN AWARDED DRILLING LICENSE FOR “MAD ”ASHDOD
A winner for drilling license for “Mad Ashdod”: the ACC Group, controlled by Haim Leibovitch, together with businessman Jacky Ben Zaken’s group won the concession. Yesterday, the Petroleum Council discussed requests for a drilling license for “Mad Ashdod” for sea oil exploration works opposite the southern coast of Israel. The official results of the meeting .and the tender will be published in the coming hours Published on 09/02/2010 in Globes
Jacky Ben Zaken
The ACC Group has subsidiaries in the fields of gold mining, oil exploration and bio-technology. Amongst other activities, the company is now developing the oil field in .the Ivory Coast, and holds gold mining licenses in Burkina Faso In addition, ACC is the controlling shareholder in the Israeli-American bio-technology company Brainstorm, which is developing a revolutionary Israeli patent for the treatment of incurable diseases, which is based on adult stem cells research. Over the
last four months Brainstorm shares rose by 350% and has been enjoying recommendations by analysts in New York following the company’s advancement .towards human medical trials in 2010 Four groups competed for the drilling license Gunning for the license were at least four groups: the Ratio Group, owned by the Rotlevi and Landau families, a joint Modiin Group, the Canadian company Lapidot and Tau Capital, and the ACC Group, which was joined by businessman Jacky Ben Zaken and .Manofim Accordingly to the Oil Law, the Petroleum Council is meant to discuss drilling license requests while taking into consideration recommendations by a professional committee and by a chartered accountant appointed by the Ministry of Infrastructure. These recommendations are based on testing the professional and financial capabilities of the applicants, among them ACC which Jacky Ben Zaken is one of its owners. The Council’s decision is transferred to the Petroleum Commissioner, Dr. Yaakov Mimran, for his approval. In the event that the request for granting the license is rejected, the applicant is entitled to appeal the decision to the Minister of Infrastructure but so far this .opportunity was used on few occasions