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

Ashdod, Israel (PortSEurope) April 28, 2021 – Israel’s Delek Drilling has signed non-binding memorandum of understanding (MOU) to sell its 22% non-operated stake in the Tamar gas field offshore Israel to Abu Dhabi’s Mubadala Petroleum for up to $1.1 billion. Delek CEO Yossi Abu said the sale has “the potential to be another major development in our ongoing vision for natural gas commercial strategic alignment
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.
Top news
-
1
Global Ports Holding interested in the Port of Alicante Alicante, Spain (PortSEurope) May 25, 2022 – The president of the Port Authority of Alicante, Julián Rodríguez López, met last…
-
2
Kazakhstan Railways and Nurminen Logistics start new trans-Caspian Sea service Constanta, Romania (PortSEurope) May 24, 2022 – KTZ Express JSC and the Finnish operator Nurminen Logistics Services OY have started…
-
3
Port of Galati receives Ukrainian grain trucks Constanta, Romania (PortSEurope) May 24, 2022 – Transport Trade Services (TTS) has reported that its terminal in the Port of…
-
4
NATO logistics to take over Ukrainian grain export via Romania Reni, Ukraine (PortSEurope) May 24, 2022 – Sending weapons to Ukraine to help the country fight against the Russian invasion…
-
5
Kuryk to triple its cargo handling and increase the transport of vehicles Kuryk, Kazakhstan (PortSEurope) May 23, 2022 – The war in Ukraine and the massive Western sanctions against Russia are redrawing…