Deal Insight
Israeli funds acquire 3% in Tamar gas field from Noble for US$369 million
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Tamar
- Deal analysis
-
Upsides and risks
-
Tamar
- Upsides
- Risks
-
Tamar
-
Strategic rationale
- Noble Energy
- Harel Group and Israel Infrastructure Fund
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and 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
What's included
This report contains:
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