February 2, 2018

Houston-based company Noble Energy Inc. announced plans to sell a portion of its stake in the Israeli offshore oil field, Tamar. The decision is in compliance with a 2016 anti-monopoly decision by Israel's High Court of Justice.

Tamar Petroleum Ltd. (TASE: TMRP), headquartered in Israel, will pay $800 million ($560 million in cash)  for a 7.5% working interest in the field. Noble remains the operator of the oil project with a 25% working interest in Tamar.

The Texas energy firm plans to reinvest the cash that it will receive from the deal towards the dev...

Please reload