Delek eyeing larger stake in Aphrodite gas field

Delek eyeing larger stake in Aphrodite gas field

Delek Group said it has begun preliminary negotiations with Noble Energy for the acquisition of 19.9% of its share in Block 12 in Cyprus.

Noble owns a 70% interest in the gas field while Delek and Avner Oil Exploration, each hold a 15% stake. The discussed consideration amount for 19.9% of the working interest is approximately US $ 155 million, the company said in a statement.

Delek stressed the negotiations for the stake in the field that holds 4.5 trillion cubic feet of gas are in the initial stage.

Earlier this year, the Cypriot government signed a memorandum of understanding with Egypt to develop the Aphrodite field and transport the gas directly to Egypt.

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 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 31 1 2 3 4 5

Flame 2020

Flame is Europe’s largest and most influential meeting place for the global gas industry.

read more >

4th PNG Petroleum & Energy Summit

The CWC Group, in partnership with Kumul Petroleum Holdings Ltd.

read more >

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

CWC World LNG & Gas Series: 12th Asia Pacific Summit

The 2020 Summit will offer an unrivaled programme covering relevant and significant discussion topics…

read more >