Ratio Oil Exploration is a leading Israeli Limited Partnership founded in 1992 with a mission to explore, develop and produce oil and natural gas.
The partnership was founded by the Landau and Rotlevy families, together with Mr. Zvi Tsafriri and Mr. Eitan Aizenberg, the Prospect generator of the Leviathan discovery, who has served as Ratio’s SVP E&P since its founding.

In 2010, Ratio and its partners discovered Leviathan – one of the largest deep-water natural gas discoveries in the world, whose total reserves and contingent resources are estimated at c.22.8 TCF of natural gas (c. 646 BCM) and c. 41 million barrels of condensate.

At the end of December 2019, less than three years after the final investment decision (FID), on schedule and with a total final investment of c. USD 3.5 billion, production commenced from the Leviathan field and supply of natural gas began to customers in the Israeli market, and from January 2020 to customers in Jordan & Egypt.

Our Partners

Our Assets


Discovered in the Mediterranean Sea in 2010, the Leviathan field is one of the largest and most significant deep-water natural gas discoveries in the world in the first decade of the 21st Century.

The vision of Eitan Aizenberg, Ratio’s Chief Geologist, and of the Landau and Rotlevy families, regarding hydrocarbons potential in deep-water offshore Israel, led Ratio to apply for the “Ratio-Yam” preliminary permit, which was awarded in 2007 and extends over an overall area of c. 2,897 square kilometers, 130 km west of Haifa.

Exploration Licenses

In October 2019, Ratio, together with British companies Pharos and Cairn, won a Ministry of Energy tender for two zones, each of which comprises four exploration licenses:

Zone A comprises licenses 39, 40, 47, 48

Zone C comprises licenses 45, 46, 52, 53

Our Numbers


BCM of natural gas (100%)


Milllion barrels of condensate



km2  Exploration Acreage (net)


Years of Experience

Ratio Investor Relations

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Yehuda Halevi 85, Tel Aviv-Yafo, 6579614