Israeli company Delek inks memorandum of understanding

(MENAFN)Israeli company Delek Drilling inked a memorandum of understanding for the sale of its stake in a natural gas field to Abu Dhabi�s Mubadala Petroleum. The deal states the future sale of the Israeli company's 22 percent stake in the Tamar natural gas field offshore Israel in the Eastern Mediterranean for USD1.1 billion, according t the Israeli Broadcasting Corporation. Israeli Energy Minister Yuval Steinitz stated that "The memorandum of understanding to sell a share of the offshore Tamar natural gas field to Mubadala Petroleum indicates the success of implementing the gas plan, which aimed to break the monopoly in this field," the broadcasting authority reported. Israel and the UAE ink a deal to normalize ties amid both countries.