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    Woodside Confirms Interest in Israeli Offshore Licenses

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Summary

Woodside Petroleum said in a statement Tuesday that it is in early phase of a competitive bidding process with the licence holders for the an interest in the 349/Rachel and 350/Amit petroleum licences offshore Israel, covering the Leviathan gas field.

by: Shardul

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Asia/Oceania

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Woodside Confirms Interest in Israeli Offshore Licenses

Woodside Petroleum said in a statement Tuesday that it is in early phase of a competitive bidding process with the licence holders for the an interest in the 349/Rachel and 350/Amit petroleum licences offshore Israel, covering the Leviathan gas field.

The company further added that any speculation about price and commercial terms would be premature.

Globes newspaper reported Monday that Woodside's bid for a 30% stake in rights to the Leviathan licenses reflects a value of $7.5 billion. Sources told Globes that the year-long process for finding a partner for Leviathan is due to end within two or three weeks.

Texas-based Noble Energy has a 39.66 percent share in the field. Israel's Delek Group has a 45.34 percent stake. Ratio Oil Exploration holds the remaining 15 percent.

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