Israel’s Delek signs non-binding memorandum of understanding with Mubadala Petroleum of UAE

in the Middle East, whereby natural gas becomes a source of collaboration in the region. “We are proud to have signed this MOU following the Abraham Accords Peace Agreement between Israel and the UAE,” Abu said, adding that he “would like to thank my counterparty at Mubadala Petroleum and our clients in Israel, Egypt, and Jordan.” The Tamar field is located roughly 90 km west of Haifa, at an overall depth of about 5,000 meters below sea level, and in waters that are 1,700 meters deep. The Tamar platform is located approx. 25 km offshore Ashdod. Currently, gas from the Tamar field is piped to the Israeli port of Ashdod and is mostly supplies the Israeli market, but there are also exports to Jordan and Egypt. U.S. energy company Chevron became the operator of Tamar when it finalized the purchase of Noble Energy in the autumn of 2020 and thus acquired Noble’s 25% interest in the field. Other stakeholders in the Tamar field include Houston-based independent Isramco, 28.75%; Tamar Petroleum in which Delek has an interest, 9.25%; Israel’s Dor Gas, 4%; and Houston-based Everest, 3.5%, according to Delek. Mubadala Petroleum is a leading international, upstream oil and gas exploration and production company, managing assets and operations spanning 10 countries globally. It is a wholly-owned subsidiary of Mubadala Investment Company (Mubadala), which is owned by the Government of Abu Dhabi. Delek Group is an Israeli conglomerate and one of the country’s largest companies, Delek Group is involved in the energy and infrastructure, with investments in upstream and downstream energy, water desalination and power plants. Copyright (C) PortSEurope. All Rights Reserved. 2021.