NewMed, the largest shareholder (45.34%) in the Leviathan gas mega-project, said the decision to pause negotiations was agreed on by all parties.
With an estimated 648.7 bcm (22.9 tcf) of recoverable gas reserves, the Chevron-operated Leviathan gasfield is the largest offshore gas asset in the Mediterranean.
BP and ADNOC announced the non-binding offer in March of last year, aiming to take the controlling share from NewMed’s parent company, Delek.
BP described the deal as a first step in its formation of a joint venture with ADNOC to pursue gas developments “in international areas of mutual interest including the East Mediterranean.”
In February, the two companies agreed to create an upstream joint venture in Egypt, a move marking the second phase of their partnership.
Wednesday’s news sent NewMed’s shares falling by around 8% on the Tel Aviv exchange. They later settled at a decrease of around 4%.
Image courtesy of NewMed.
Seatrium has been awarded a contract by SBM Offshore for the topsides fabrication and integration of an additional FPSO vessel… Read More
Diamond Offshore has secured a USD 350-million extension for an ultra-deepwater drillship deployed for Anadarko Petroleum in the US Gulf… Read More
ExxonMobil has made a discovery in the Angolan deepwater, the country's energy regulator announced on Monday Read More
TechnipFMC has been awarded an EPCI contract worth up to USD 250 million by Woodside Energy to fabricate and install… Read More
Hungarian refiner Mol Nyrt has inaugurated a USD 1 Read More
Mubadala Energy has made a major deepwater gas find off Indonesia with a potential of at least 56 Read More
This website uses cookies.