UAE - Mubasher: Israel's Delek Drilling has completed a transaction to sell its 22% stake in the east Mediterranean Tamar gas field to Abu Dhabi's Mubadala Petroleum in exchange for $1 billion, Reuters reported.
Delek said that the company has finalised the biggest commercial deal to be signed between Israeli and Emirati groups since Israel and the UAE have normalised ties in 2020.
In April, Delek has inked a preliminary agreement to sell its 22% stake in the field, which is operated by Chevron, but it was subject to government approval.
With a capacity to produce 11 billion cubic metres of gas a year, the Tamar field is one of Israel's primary energy sources.
