Gas deal could spur Noa development

Offshore staff

TEL AVIV, Israel -- The partners in the Yam Tethys project, involving gasfield developments off southern Israel, have agreed a further sale of gas to Oil Refineries Ltd (ORL).

Under the arrangement, ORL will purchase 1.2 bcm (42.3 bcf) of gas from the Yam Tethys partners Noble Energy Mediterranean, Avner Oil Exploration, and Delek Investments and Properties. The estimated transaction price is $350 million, although this could change, depending on crude oil price movements or ORL’s future gas demands.

Further to this agreement, the partners are now considering development of the Noa offshore gas field.

05/25/2011

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...