Noble Energy

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Cyprus to renegotiate offshore gas deposit contract

Cyprus's energy minister says the country will renegotiate the financial terms of its contract with a consortium on exploiting a gas field off its southern shore.

Georgios Lakkotrypis told reporters on Tuesday that the consortium made up of Texas-based Noble Energy, Israel's Delek and Royal Dutch Shell wants to renegotiate the contract on the Aphrodite gas field.

What is happening to Noble Energy?

The news last week was that Noble Energy decided to move two of its senior staff from Cyprus to Israel. Some ‘political sources’ interpreted this to be the result of dissatisfaction with the way government is handling commercialisation of Aphrodite and in particular the inordinate delays and lack of progress.

Energean secures Israel gas project

Greek oil producer Energean has exceeded its target for gas sales contracts needed before it goes ahead with plans to tap two gas fields off Israel's coast, market sources said on Wednesday. Energean bought the Karish and Tanin fields, located in deep waters around 100 kilometers off Israel's coast, last August for $148 million from US-Israeli partners Delek Group and Noble Energy.

Israel's Leviathan partners approve gas production target for late 2019

The Israeli partners in the Leviathan gas field said on Dec. 12 they approved a development plan for the field with a target production date for the end of 2019.

The plan, the group said in a statement to the Tel Aviv Stock Exchange, includes a first stage development for production of about 12 billion cubic meters (bcm) a year at a cost of $3.5-4 billion.

Israeli Leviathan partners get up to $1.75 bln HSBC, JPMorgan financing

The main Israeli partners developing the large Leviathan natural gas site said on Nov. 27 they signed commitment letters with HSBC and J.P. Morgan for up to $1.75 billion (1.65 billion pounds) of financing.

Delek Drilling and Avner Oil Exploration said the funds would go towards the A1 development stage of the project.

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