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Tamar gas group eyes upgrade, including pipeline to Egypt

Nov. 20, 2014 8:39 AM ETChevron Corporation (CVX) StockCVX, E, AVOGF, DKDRF, GASNYBy: Carl Surran, SA News Editor
  • Israel's Tamar gas field reportedly would get a $1.5B-$2B expansion of production capabilities with new wells, platform upgrades and an underwater pipeline to Egypt if a final supply deal is signed with Spain's Union Fenosa Gas.
  • If the deal is finalized, the U.S.-Israeli group running Tamar would cover pipeline costs up to the maritime border with Egypt and UFG would pay for the rest.
  • The group includes Noble Energy (NYSE:NBL), which holds 36%, in addition to Israeli companies Avner Oil (OTCPK:AVOGF) and Delek Drilling (OTC:DKDRF); Union Fenosa Gas is a joint venture between Spain's Gas Natural (OTCPK:GASNY) and Italy's Eni (NYSE:E).

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