Delek Drilling is selling it's 22% share in the Tamar reservoir for $ 1.1 billion Dollar

Delek Drilling reported today (Monday) that it has signed a non-binding memorandum of understanding for the sale of its entire share in the Tamar reservoir (22%) to the Mubadella Petroleum Company in Abu Dhabi. The company is part of Abu Dhabi's national investment company, which manages assets worth about $ 230 billion.
This is the largest commercial agreement signed between the countries since the normalization agreements with the Emirates and it was signed as part of the gas outline in which Delek Drilling undertook to sell its holdings (22%) in the Tamar reservoir by the end of 2021. According to the company, Mobadela will pay $ 1.1 billion Dollars are conditional upon completion of certain terms and conditions. The companies have pledged to complete the final agreement by the end of May. Energy Minister Yuval Steinitz was updated today on the details of the deal.
The Tamar reservoir has six partnerships. The Tamar Reservoir, located about 90 km west of Haifa, at a total depth of 5,000 meters from the sea, and at a water depth of 1,700 meters was declared a discovery in 2009. Production from the reservoir began in 2013, and is carried out using six wells, from which The gas is used through two 140 km long pipes to the Tamar rig on which most of the natural gas treatment is carried out. From the rig, the good gas is transferred
Once it completes the sale of its stake in the Tamar Reservoir, Delek Drilling will continue to hold 45.3% of the Whale Reservoir, which has proven and expected reserves of 649 BCM of natural gas and 41 million barrels of condensate with a production capacity of 1.2 BCF per day, and decades of expected activity. Also, Delek Drilling owns 30% of the Aphrodite Reservoir located off the coast of Cyprus with expected reserves of 3.5 TCF.
Delek Drilling has a low-risk growth strategy based on the continued development of its existing assets, along with expanding exploration and production activities in the Mediterranean region and expanding investment in energy transfer technologies to the mainland pipeline pipeline in Ashdod, and flowing to markets in Israel, along with small quantities to Egypt and Jordan.
Mubadella Petroleum is an international natural gas exploration and production company that holds natural gas assets in 10 countries, and focuses its activities in the Middle East, North Africa, Russia and Southeast Asia. Founded in 2012, Mubadella Petroleum is a wholly owned subsidiary of Mubadella Investments, which is owned by the Abu Dhabi government.
 Yossi Abu, CEO of Delek Drilling, said in a statement issued by the company: “The Memorandum of Understanding signed today is a major step towards the final completion of the gas layout, in accordance with all our commitments from the outset. "This memorandum of understanding, which we hope will soon mature into a final agreement, meets all the criteria we set for ourselves: meeting the gas outline schedules, a valuable deal for Delek Drilling shareholders, strengthening Israel's natural gas economy and deepening regional cooperation."
Minister Steinitz said after the announcement of the deal: "The gas monopoly has disintegrated, and large international companies are entering and expressing their confidence in our gas economy. Now, after the signing of the Avraham agreements, a company from an Arab country is also investing in Israel's gas market. I believe this is the beginning of cooperation." In the field of energy and in other economic and political fields for the welfare of the citizens "