Deal Insight
SOCAR acquires 10% stake in Israel’s Tamar gas field
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Report summary
Azerbaijan's SOCAR agreed to acquire a 10% stake in Israel's Tamar gas field. The deal consists of a two-seller transaction. SOCAR will acquire 6.96% from Union Energy, which is controlled by private investor Aaron Frenkel, and 3.04% from Frenkel's share in Tamar Petroleum. No consideration has been disclosed. The giant gas field came onstream in 2013 and production averaged over 900 mmcfd over the past five years. Chevron took over operatorship in 2020 following its acquisition of Noble Energy. Tamar gas is sold on the domestic market, with volumes also exported to Jordan and Egypt.
Table of contents
- Executive summary
- Transaction details
- Upstream assets
- Deal analysis
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Upsides and risks
- Upside
- Risks
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Strategic rationale
- SOCAR
- Private investor: Aaron Frenkel
- Tamar Petroleum
- Oil & gas pricing and assumptions
Tables and charts
This report includes the following images and tables:
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Executive summary: Table 1Upstream assets: Table 1Map
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Deal analysis: Table 1Deal analysis: Table 2Oil & gas pricing and assumptions: Table 1Oil & gas pricing and assumptions: Table 2
What's included
This report contains:
