Noble to sell off part of its Aphrodite holdings

US Noble Energy is looking to sell off part of its stake in Aphrodite field. Its Israeli partner, Delek Group is negotiating with Noble to buy an additional 19.9% at a cost of around US$155 million.

Currently, Noble holds a 70% stake in the field located in Bloc 12, off South Cyprus and estimated to contain 4.54 trillion cubic feet of natural gas. Delek, through two subsidiaries, holds the remaining 30%.

However, negotiations are at an early stage and any agreement would require a variety of regulatory approvals, Delek has said.


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