Deals this week: Avner Oil Exploration Limited Partnership, BP

27 April 2017 (Last Updated April 27th, 2017 18:30)

Delek Group subsidiaries Avner Oil Exploration Limited Partnership and Delek Drilling Limited Partnership each plan to offload up to 5% stake in the Tamar and Dalit fields by setting up a new company.

Delek Group’s subsidiaries Avner Oil Exploration Limited Partnership and Delek Drilling Limited Partnership each plan to offload up to 5% stake in the Tamar and Dalit fields by setting up a new company.

The fields are located on the northern coast of Israel.

"Covering an area of 250km², the Tamar field contains proven and probable reserves of 9.9 billion cubic feet (bcf) of gas and 13 million metric barrels (mmbls) of condensate."

Covering an area of 250km², the Tamar field contains proven and probable reserves of 9.9 billion cubic feet (bcf) of gas and 13 million metric barrels (mmbls) of condensate.

The Dalit field is estimated to contain contingent resources of 2,707bcf of gas.

UK-based oil and gas company BP has reached an agreement with Timis to purchase an additional 30% stake in Saint-Louis Profond and Cayar Profond blocks offshore Senegal, subject to government approval.

The transaction will increase BP’s stake in the blocks to 60%, while Kosmos will hold 30% and Petrosen will hold the remaining 10%.