Israeli company sells shares in natural gas field to Emirati group
In a demonstration of the economic dividends of the Abraham Accords, Abu Dhabi's Mubadala Petroleum is buying Israeli Delek Drilling’s shares in the Tamar natural gas field.
The Israeli energy company Delek Drilling reported on April 26 that it signed a nonbinding memorandum of understanding to sell its stake (22%) in the Tamar natural gas reserve in the Mediterranean Sea to Mubadala Petroleum of Abu Dhabi.
This is the largest and most significant commercial agreement signed between Israel and the United Arab Emirates since the normalization agreement (the Abraham Accords) was signed between the nations, which opened diplomatic and economic contacts between the countries.
