Noble Energy selling stake in Israel’s Tamar gas field

Noble Energy said on Monday it would sell a 7.5 percent stake in the Tamar natural gas field, offshore Israel, to Tamar Petroleum in a deal valued at about $800 million.

Under the deal, the Houston-based Noble will receive $560 million in cash and 38.5 million shares of Tamar Petroleum.

The company said the cash proceeds from the transaction will be utilized to support the capital investment in its Leviathan development.

Noble operates the Tamar field with a 32.5 percent working interest. Following closing of the transaction, the company will retain a 25 percent working interest and will remain the operator.

The divested working interest represents approximately 62 million cubic feet equivalent per day of 2017 production and proved reserves of approximately 500 billion cubic feet equivalent as of year-end 2017, Noble said.

Share this article

Follow LNG World News

Posted on January 30, 2018

Events>

<< Nov 2018 >>
MTWTFSS
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

The International Gas Cooperation Summit (IGCS)

The Summit will put the objectives of South Africa and the region at the forefront of international gas development…

read more >

LNG Supply, Transport & Storage South Asia Forum 2018

LNG Supply, Transport & Storage South Asia Forum 2018 will address and propagate LNG imports…

read more >

The Nineteenth CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening is recognised as the premier end of year gathering for the global LNG industry.

read more >

LNG India Summit 2018

After three successful editions, LNG Summit is back with yet another edition for chief LNG…

read more >