Energean to buy two gas fields off Israel

The partners in Israel’s two offshore gas fields, Tamar and Leviathan, have agreed to sell all of their rights in two other fields, Tanin and Karish, located off Israel, to the oil company focusing on the Mediterranean and North Africa, Ocean Energean Oil and Gas. 

The agreement was signed on Tuesday between Delek Group’s subsidiary, Delek Drilling, Avner Oil, and Energean.

Energean will buy all of the rights from the partners and Noble Energy in the Mediterranean Sea leases I/16 Tanin and I/17 Karish for a total sum of $148.5 million,  plus royalties in connection with natural gas and condensate that will be produced from the leases.

Avner Oil and Delek each have 26.4705% stake in the fields, while Noble Energy holds 47.059% interest.

If and when the transaction is closed, Energean will hold 100% interest in both fields.

Noble and Delek were required to divest their ownership in the Karish and Tanin fields, located in the Alon A and Alon C licences, in order to avoid being branded a cartel by the Israeli authorities, as they already own the country’s largest offshore gas fields, Tamar and Leviathan.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Africa Oil & Power 2019

The Africa Oil & Power conference will bring together an elite class of ministers and senior-level government…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply