Israel Leviathan gas group may have to offload smaller assets

|By:, SA News Editor

The group that is drilling for gas at the huge Leviathan field off the coast of Israel is in "advanced negotiations" with the government to sell two smaller reserves in order to assuage antitrust concerns.

The consortium comprises Noble Energy (NBL) and Delek Group (DGRLY) units Delek Drilling (DKDRF) and Avner Oil & Gas (AVOGF).

The areas under discussion, called Tanin and Karish, hold combined estimated reserves of 3T cubic feet, well below the consortium's other resources - Leviathan has 19T cf and Tamar 10T cf.

Once an agreement is reached, the group will have a reported 2.5-4 years to sell the assets.