Abu Dhabi’s Mubadala buys Delek Drilling’s Tamar stake

Congratulations to our client Delek Drilling, on completing the transaction for the sale of its 22% interest in the Tamar and Dalit natural gas reservoirs to Mubadala Petroleum of Abu Dhabi, for over USD 1 billion.

Working on this historical transaction are advs. Dan Hacohen, Eddie Ashkenazi, Evyatar Sadeh and Rebecca Baskin Zafrir of our Energy Practice, as well as advs. Yona Goshen Gottstein and Tal Levy of our Banking and Finance Practice.

This amazing deal concludes Delek’s involvement in the Tamar project, which began with the initial discovery of the reservoir in the 1990s. It also marks the completion of the Gas Framework arrangement.

We are proud to advise the partners in the Tamar field ever since the initial exploration efforts and to have represented Delek in this remarkable deal.