Noble sells stake in two small Israeli gas fields

Noble Energy has sold its stake in two undeveloped gas fields in the Eastern Mediterranean, according to Fuel Fix. Noble sold its 47% interest in the Karish and Tanin fields for $67 million to its Israeli partner, Delek Group.

Under the deal, Delek will have exclusive control to sell the full rights to a separate buyer within 14 months as part of an arrangement with the government to open the country’s reserves to additional developers. Edison SpA, Hess Corp. and EOG Resources have been identified as potential buyers, said Fuel Fix, citing Israeli newspaper Globes. Israel’s energy minister Yuval Steinitz has also suggested that Eni consider investing in the Karish and Tanin fields, Globes reported.

The Karish and Tanin fields together contain approximately 3 trillion cubic feet of gas.

 

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