Israel's Delek finalises sale of Tamar gas stake to Mubadala | Reuters
Delek Drilling (DEDRp.TA) has finalised a deal to sell its 22% stake in the east Mediterranean Tamar gas field to Abu Dhabi's Mubadala Petroleum for about $1 billion, the Israeli company said on Thursday.
Delek said it is the biggest commercial deal to be signed between Israeli and Emirati groups since Israel and the United Arab Emirates normalised ties last year. A preliminary agreement was reached in April but it required government approval.
The Tamar field is one of Israel's primary energy sources and can produce 11 billion cubic metres of gas a year - enough to cover much of the Israeli market as well as exports to Egypt and Jordan.
Delek Drilling, a unit of conglomerate Delek Group (DLEKG.TA), holds a 22% stake in the field, which is operated by Chevron (CVX.N).
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