Just six months after dipping its toe into the East Mediterranean with its first Egypt block, US major Chevron has dived straight in with its $5bn takeover of compatriot Noble Energy.

Noble is the key player offshore Israel with operator’s stakes of 39.66% and 25% respectively at the country’s two key gas fields, 23tcf Leviathan and 10.6tcf Tamar. Noble also has four more Israel blocks and is in the process of itself entering the Egyptian Mediterranean with 27% stakes in two yet-to-be-finalized Shell-operated blocks. (CONTINUED - 1860 WORDS)