Noble reduces holdings offshore Israel

Offshore staff

TEL AVIV, Israel – Noble Energy Mediterranean has divested 47% of its stake in two licenses offshore Israel to two subsidiaries of Delek Group for $73 million.

The company has transferred its interests in the 364/Alon A and 366/Alon C concession, containing the Karish and Tanin gas discoveries, to existing licensees Avner Oil Exploration and Delek Drilling.

Noble says the transfer is necessary to fulfil its obligations under Israel’s recently-approved Regulatory Framework, and will simplify the ultimate sale of Tanin and Karish to a third party.

Earlier this week Noble farmed out an interest in deepwater block 12 offshore southern Cyprus, including the 4-tcf Aphrodite discovery, to BG Group. The duo is keen to take the gas to markets in northern Egypt.

11/25/2015

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