Deal Insight
Israeli funds acquire 3% in Tamar gas field from Noble for US$369 million
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Report summary
The Harel Group and Israel Infrastructure Fund have agreed to acquire a 3% stake in the Tamar gas field, offshore Israel, from Noble Energy. The deal signals the start of Noble Energy's disposal of 11% of Tamar as required under the Gas Outline Agreement. The deal was done under a significant premium according to our base case valuation, reflecting in part the high quality nature of Tamar and a likely lower discount rate. The deal provides an attractive low risk return to the buyers.
What's included
This report contains
Table of contents
- Executive summary
- Transaction details
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Upstream assets
- Tamar
- Deal analysis
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Upsides and risks
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Tamar
- Upsides
- Risks
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Tamar
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Strategic rationale
- Noble Energy
- Harel Group and Israel Infrastructure Fund
- Oil & gas pricing and assumptions
Tables and charts
This report includes 6 images and tables including:
Tables
- Executive summary: Table 1
- Deal analysis: Table 1
- Deal analysis: Table 2
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
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