Emirati company to buy stake in Israeli gas field
MoU signed on purchasing 22% of Tamar natural gas field in East Mediterranean for $1.1 billion
Israeli company Delek Drilling signed a memorandum of understanding Monday for the sale of its stake in a natural gas field to Abu Dhabi’s Mubadala Petroleum.
The Israeli Broadcasting Corporation said the deal states the future sale of the Israeli company's 22% stake in the Tamar natural gas field offshore Israel in the Eastern Mediterranean for $1.1 billion.
The broadcasting authority quoted Israeli Energy Minister Yuval Steinitz as saying that "the memorandum of understanding to sell a share of the offshore Tamar natural gas field to Mubadala Petroleum indicates the success of implementing the gas plan, which aimed to break the monopoly in this field."
Last year, Israel and the United Arab Emirates signed an agreement to normalize relations between the two countries.
*Writing by Mahmoud BarakatAnadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.