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Delek, Noble take first step in selling two small Israeli gas fields
JERUSALEM
Nov 15 Israel's Delek Group and Texas-based Noble Energy moved forward with plans to sell off two small natural gas fields in the eastern Mediterranean with Delek purchasing the full rights to sell the fields to a new buyer.
Under the deal, Delek paid $67 million for the rights to sell Noble's 47 percent in the undeveloped Karish and Tanin fields, which together contain an estimated 3 trillion cubic feet of gas.
According to a draft Israeli government plan meant to open the gas sector to competition, Delek will have 14 months to sell Karish and Tanin to a new group.
Delek said the deal with Noble is dependent on the government plan winning final approval, which is expected to happen in the coming weeks. (Reporting by Ari Rabinovitch; Editing by Tova Cohen)
