The non-binding offer for a 50% share in the company is part of a plan for the two partners to pursue gas projects in the Mediterranean.
NewMed Energy holds a majority stake in the Chevron-operated Leviathan offshore field in Israel, which currently produces around 12 bcm (424 bcf) of gas per year.
The proposed second phase of the project is expected to almost double production to between 21 bcm (742 bcf) and 24 bcm (848 bcf), with 7 bcm (247 bcf) converted to LNG for export.
FID on the next phase is expected to take place in H2 2024.
NewMed Energy is majority owned by Israel’s Dalek Group.
Spain's Iberdrola plans to triple its offshore wind assets in the coming years, bringing their value to USD 18 billion,… Read More
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy,… Read More
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
This website uses cookies.