Delek Interested in Buying 19.9% Share in Cypriot Aphrodite Field from Noble Energy - Report

Israel’s Delek Group reportedly said it is interested in buying an additional 19.9% stake in Aphrodite field from Noble Energy for about $155 million.

Following the transaction, Noble would keep a 50.1% interest, and it is likely to remain operator of the field off the coasts of Cyprus. Delek would control the rest. 

‘Israeli conglomerate Delek Group said on Monday it is in talks to buy an additional 19.9 percent stake of the offshore Cyprus gas field Aphrodite from its partner, Texas-based Noble Energy,’ Reuters wrote on Monday, adding that the negotiations are at an early stage. 

The deal would require regulatory approvals. 

On its website, Noble said that, along with its partner, it is studying options for the development discovery offshore Cyprus, estimated at around 5 Tcf. In April, Natural Gas Europe wrote that Noble Energy is conducting various meetings with the Government of Cyprus to submit a draft proposal in the near future that would then open the door to declaring Aphrodite commercial.

The field was discovered in 2011 in Block 12 of Cyprus’ Exclusive Economic Zone (EEZ).