The Israeli energy ministry has received a recommendation from the advisory Petroleum Council to approve Chevron’s acquisition of Noble Energy which operates the country’s Leviathan and Tamar offshore gas fields. Israeli energy minister Yuval Steinitz on Monday said that Chevron’s entry highlighted its confidence in the country’s energy sector.
Discovered in 2010, the Leviathan field is estimated to contain 620 Bcm (22 Tcf) of recoverable gas reserves. Egyptian Dolphinus Holdings in 2018 signed a long-term deal to import gas from the Leviathan and Tamar fields. Chevron’s takeover of Noble was announced in July, which could strengthen the oil giant’s position in the Eastern Mediterranean.
