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2018-01-31 10:35:00

NOBLE SELLS TAMAR

NOBLE SELLS TAMAR

REUTERS - Noble Energy Inc will sell a 7.5 percent stake in the Tamar natural gas field offshore Israel to Tamar Petroleum Ltd for about $800 million in cash and shares, the U.S. oil and gas producer said on Monday.

Noble will receive $560 million in cash and 38.5 million shares of Tamar Petroleum.

The deal allows Noble to cut its holdings in Israel's only commercial gas field to 25 percent from 32.5 percent, complying with government plans to open the market to competition.

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Tags: NOBLE, TAMAR, GAS, ISRAEL
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