Delek Raises Funds To Drive Offshore Israel Development

Delek and Noble, key partners in Israel’s Leviathan and Tamar offshore gas fields are taking steps to move forward with development, whether or not Australia’s Woodside takes a Leviathan stake. But their dominance in the Israeli gas sector has caught the attention of the antitrust authorities.

Israel’s privately-owned Delek Group, majority owner of Israel’s 19 tcf Leviathan field, this week raised $2bn through a bond to fund its share of development costs.

Delek has 45.34% of Leviathan, whilst Texas-based Noble Energy is operator with 39.66%. The two are also partners at the nearby 10 tcf Tamar field; Delek says the latest funds will also be used to increase capacity here. (CONTINUED - 776 WORDS)

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table Delek Israel Gas Field Stakes