Delek in talks with Noble Energy to increase stake in Cyprus gas field

• Delek Group (OTCPK:DGRLY) says it is in talks to buy an additional 19.9% stake of the Aphrodite offshore Cyprus gas field from its partner, Noble Energy (NYSE:NBL), for ~$155M.
• NBL owns a 70% stake in the field, located in Block 12 off the Cypriot coast and estimated to contain 4.54T cf of natural gas; Delek, through two subsidiaries, holds the remaining 30%.
• Cyprus is weighing options to export gas to Egypt and Jordan via pipeline from the Aphrodite field.