WorldIsraeli company Delek sells share of gas field to Emirati company Mubadala

Israeli company Delek sells share of gas field to Emirati company Mubadala

AA / Jerusalem

The Israeli company, Delek Drilling has announced that it has sold its stake in the Tamar natural gas field in the Mediterranean to the Emirati company Mubadala, for a total value of $ 1.02 billion.

Delek said in a statement on Thursday that its share of the Tamar gas field stands at 22%, with full sale procedures to be completed within the next two months, so Mubadala will take over from the Tamar gas field. Israeli company in the gas field.

“The agreement signed today represents a double victory for us, and we have taken a major step in deepening our regional activities,” said Yossi Abu, Chairman and CEO of Delek.

Abu described the deal as a “huge deal with a company in the Emirates, alongside our gas export business to Egypt and Jordan … This is exactly how a new Middle East is. built through actions on the ground “.

Until 11:00 GMT, the Emirati company Mubadala had not yet issued any comments regarding what was announced by the Israeli company.

Delek owns a 45.3% stake in another Israeli field in the Mediterranean, the Leviathan gas field, which is one of the largest gas fields discovered by Mediterranean countries.

After the normalization of relations between the United Arab Emirates and Israel in September 2020, under the aegis of the United States, the pace of the economic partnership has accelerated between the two countries which have concluded dozens of trade, financial and customs officials.

* Translated from Arabic by Mounir Bennour

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