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

  • Document

    Israeli funds acquire 3% in Tamar gas field from Noble for US$369 million

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Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • 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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