Noble Energy inks Tamar gas deal with Jordanian companies

Noble Energy has signed a 15-year gas sales agreement via NBL Eastern Mediterranean Marketing with the Arab Potash Co. and the Jordan Bromine Co., both based in Amman, Jordan.

Offshore staff

HOUSTON – Noble Energy has signed a 15-year gas sales agreement via NBL Eastern Mediterranean Marketing with the Arab Potash Co. and the Jordan Bromine Co., both based in Amman, Jordan.

Around 66 bcf of gas will be supplied from the deepwaterTamar field to both companies for use at their facilities near the Dead Sea.

Noble expects natural gas sales to start in 2016, once the minimal required pipeline infrastructure has been completed, and anticipates gross revenues of around $500 million.

Keith Elliott, Noble’s senior vice president, Eastern Mediterranean, said: “The execution of this agreement evidences the growing regional opportunities for our natural gas and brings forward value for the Tamar asset. We have now signed the first regional export agreements for bothTamar and Leviathan, and we are in a number of additional negotiations to sell significant quantities of natural gas from both fields to multiple customers.”

The company operates Tamar in partnership with Isramco Negev, Delek Drilling, Avner Oil Exploration, and Dor Gas Exploration. The Tamar field has an estimated 10 tcf of discovered natural gas resources.

02/25/2014

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