Noble Energy has signed a gas sales and purchase agreement (GSPA) to supply natural gas from the Leviathan field to Jordan's National Electric Power Company (NEPCO) for use in power production facilities.
Under the GSPA, Noble Energy and the Leviathan partners will supply a gross quantity of around 1.6 trillion cubic feet (Tcf) of natural gas from the Leviathan field, or 300 million cubic feet per day (Mcf/d) over a 15-year term.
The buyer also has an option to acquire an additional 50Mcf/d to take it up to 350Mcf/d.
Natural gas supplied under this deal will include take-or-pay commitments, with pricing linked to Brent oil and a firm floor price.
Gross contract revenues are expected to be around $10bn.
This deal comes after an earlier-announced agreement with the Jordan Bromine Company and the Arab Potash Company for first gas exports to Jordan from the Tamar field in late-2016.
Noble Energy Eastern Mediterranean senior vice-president J Keith Elliott said: "We look forward to supplying natural gas resources for energy and economic development to the people of Jordan. This first export GSPA for Leviathan further underpins the volumes supporting project sanction. Including Israel sales contracts, this brings total contracted volumes to between 400Mcf/d and 450Mcf/d.
"The approved plan of development incorporates an expandable platform, which will enable us to accelerate Leviathan first gas while maintaining the ability to increase production capacity to meet growing future demand.
"While continuing to advance negotiations with additional Israeli industrial and power companies and other regional customers, we are also progressing the other work streams necessary for a final investment decision as early as the end of 2016."
The firm plans to complete construction and field development to deliver the first gas from Leviathan in three years following sanction.
After receipt of regulatory approvals from Israel and Jordan, sales to NEPCO are expected to start at field startup.
The initial Leviathan field development will be a subsea tie-back to a shallow-water platform with a pipeline connection through to Jordan.
Noble Energy has a 39.66% working interest in Leviathan field. Other interest owners are Delek Drilling with 22.67%, Avner Oil Exploration with 22.67%, and Ratio Oil Exploration (1992) Limited Partnership with the remaining 15%.
The Leviathan field has an estimated 22Tcf of recoverable natural gas resources.
