The Israeli energy company, Delek, announced today, Thursday, that it has concluded an agreement to sell its 22% stake in the Tamar gas field to Mubadala Petroleum in Abu Dhabi for about $1 billion.
Delek said that this is the largest commercial deal signed by an Israeli group and an Emirati group since Israel and the UAE normalized relations last year.
The two companies had signed a preliminary agreement last April, when Delek said it had signed a non-binding agreement to sell its stake in the Tamar natural gas field in the eastern Mediterranean to Mubadala Petroleum in Abu Dhabi.
The Tamar gas field is one of Israel’s main sources of energy. Delek owns a 22% stake in the field, which is operated by the US company, Chevron.
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