The agreement announced Monday would provide 45 billion cubic meters (1.6 trillion cubic feet) of gas to Jordan over 15 years. Delek says revenues could amount to $10 billion.
Delek Drilling CEO Yossi Abu hailed the "historic" deal and said developers of the Leviathan reservoir would pursue similar agreements with others in the region, including Egypt, Turkey and the Palestinian Authority.
Resource-poor Israel announced the discovery of sizeable offshore natural gas deposits about five years ago, and a partnership of Israeli and U.S. companies, including Texas-based Noble Energy and Delek, have already begun extracting.
Israel and Jordan signed a peace deal in 1994.