Gulf Oil and Gas accountACCOUNT

Tamar Partners to Sign $750M Deal with Israel's Delek

Source: Reuters 3/9/2014, Location: Middle East

The partners in Israel's Tamar natural gas field said they expect to sign a deal in the next few days to supply about $750 million worth of gas to IPP Delek Soreq, which is building a power plant in Israel.

A total of 3.3 billion cubic meters (bcm) will be sold over 15 years - or when IPP Delek Soreq consumes the amount of gas in the contract starting in the first quarter of 2016, according to a statement to the Tel Aviv Stock Exchange.

The contract may be extended by two more years if after 14 years the quantity has not been fully used.

Tamar, discovered in 2009 off Israel's Mediterranean coast, is estimated to hold more than 280 bcm of gas. It began production a year ago and has already signed a number of lucrative deals in Israel.

Texas-based Noble Energy has a 36 percent stake in the field. Delek Group, through its units Avner Oil Exploration and Delek Drilling, holds a 31.25 percent share. Isramco Negev has 28.75 percent and Dor Gas Exploration holds the remaining 4 percent.

IPP Delek Soreq is controlled by Delek Group.

Last month, the Tamar partners agreed to sell at least $500 million of gas to two Jordanian companies in the first deal outside of Israel.

Oil Field Services News in Israel >>

Saudi Arabia >>  8/22/2019 - Consortium of L&T Hydrocarbon Engineering Limited (LTHE) and EMAS AMC PTE Ltd. (A Subsea7 Company) has been awarded a project by Saudi Aramco. This ...
United Arab Emirates >>  8/21/2019 - Aker Solutions has won an order from ADNOC (Abu Dhabi National Oil Company) to deliver subsea umbilicals for the Dalma gas development project located...

United Arab Emirates >>  8/21/2019 - The Abu Dhabi National Oil Company (ADNOC) announced the award of multi-billion-dollar contracts for the procurement of casing and tubing as it drives...
Qatar >>  8/15/2019 - Seadrill Limited (Seadrill) refers to the announcements made on May 1, 2019 in connection with the award of drilling contracts by Qatar Petroleum to ...

Oman >>  7/31/2019 - BP and Eni have signed an exploration and production sharing agreement (EPSA) for Block 77 in central Oman with the Ministry of Oil and Gas of the Sul...
United Arab Emirates >>  7/31/2019 - OMV, the international integrated oil and gas company based in Vienna, and ADNOC, the Abu Dhabi National Oil Company, closed the strategic equity part...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Israel Oil & Gas 1 >>  2 | 3 | 4 |

Oil & Gas Projects in Israel >>

More News

Related Links

Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.