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Israel's Tamar Partners Sign $700 Million Contract With Paz Oil

JERUSALEM -(Dow Jones)- The partners in Israel's offshore Tamar natural gas field said Monday they have signed a supply contract worth $700 million with Paz Oil Co. Ltd. (PZOL.TV). The contract calls for the Tamar partners to supply 3.12 billion cubic meters of natural gas over 15 years to Paz, which operates an oil refinery in Ashdod and filling stations around Israel. Paz said it will use the natural gas to run two power plants for its oil refinery. The main partners in Tamar include Delek Group Ltd. (DLEKG.TV) subsidiaries Avner Oil Exploration (AVNR.L.TV) and Delek Drilling LP (DEDR.L.TV) and Houston-based Noble Energy Inc. (NBL). Tamar is expected to begin production next year. Its partners recently announced that the estimated amount of natural gas in Tamar has been increased to 9.7 trillion cubic feet from 9 trillion cubic feet. The Tamar partners have already signed several supply contracts, including one worth $15 billion with state-owned Israel Electric Co. At 1459 GMT, shares of Paz were up 4.50 shekels ($1.21), or 0.91%, at ILS500.50; shares of Avner were up ILS0.018, or 0.71%, at ILS2.563; and shares of Delek Drilling were up ILS0.07, or 0.50%, at ILS14.21, in a higher Tel Aviv market. -By Sara Toth Stub, Contributing to Dow Jones Newswires, saratoth@gmail.com

Stock News for Noble (NBL)
DateTimeHeadline
04/15/201409:30:42Noble Energy CEO Davidson to Retire in 2015
03/12/201411:41:42Israel's Tamar Field Signs Second Domestic Gas Supply Deal This...
02/21/201401:59:43Noble Plans China Oil-Field Stake Sale -- Update
02/06/201421:10:04Woodside Says Terms of Leviathan Agreement Changed
02/06/201418:31:30Noble Energy Signs Pact to Sell Offshore Licenses to Woodside
02/06/201412:25:48U.S. Hot Stocks: Hot Stocks to Watch
12/18/201310:19:34Israeli Firms Distance Themselves From Noble Energy's Oil Field...
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12/02/201308:08:13Israel's Givot Olam Halts Drilling at Meged field
11/28/201308:09:38Increased Natural Gas Production Fails to Boost Delek Group's...
11/26/201304:14:09Israel's Tamar Gas Partners Say Signs of Petroleum in Nearby...
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11/15/201308:22:24Janus Capital Management 3Q 13F: Holdings As Of -2-
11/15/201308:22:23Janus Capital Management 3Q 13F: Holdings As Of Sep 30
11/15/201308:21:52Janus Capital Management 3Q 13F: Largest Purchases -2-
11/15/201308:21:50Janus Capital Management 3Q 13F: Largest Sales
11/15/201308:12:57Fidelity Management & Research Co. 3Q 13F: Holdings As Of Sep...

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