bp, ADNOC pursuing East Med partnership

March 29, 2023
bp and ADNOC have jointly made a non-binding offer to acquire a 50% stake from Delek Group in NewMed Energy, a partner to Chevron in the Tamar and Leviathan gas fields offshore Israel.

Offshore staff

HERZELIA, Israel – bp and ADNOC have jointly made a non-binding offer to acquire a 50% stake from Delek Group in NewMed Energy, a partner to Chevron in the Tamar and Leviathan gas fields offshore Israel.

The bidders aim to form a new joint venture that will be focused on gas development in international areas of mutual interest, including the East Mediterranean. This transaction would represent the first step of the process.

The two companies also intend to explore various mechanisms for the formation and potential further expansion of their new partnership.

03.29.2023

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