Israel’s Delek Drilling Looks Abroad To Spin Off Tamar Stake In 2019

Israel’s Delek Drilling LP is looking to spin off its remaining 22% stake in the offshore Tamar gas field in 2019, the company’s CEO said Nov. 19.

Last year Delek spun off an initial 9.25% of Tamar into a new company in Tel Aviv called Tamar Petroleum. It said at the time it expected to get $980 million for the sale.

CEO Yossi Abu said Delek Drilling is now focusing abroad, including the Euronext market, since the local market is already saturated for Tamar.