Noble, Woodside terminate $2.5 billion MOU for Leviathan

05/26/2014
The nonbinding memorandum of understanding (MOU) for the $2.5 billion sale of interest in the Leviathan licenses offshore Israel between Noble Energy Inc. and Woodside Petroleum, first reported in December 2012, has been terminated by the companies (OGJ Online, Dec. 3, 2012). Woodside would have acquired a 25% stake in each of the 349/Racheal and 350/Amit petroleum licenses that contain the field. Working interests in the Leviathan project will remain Noble Energy, operator, at 39.66%, Delek Drilling 22.67%, Avner Oil Exploration 22.67%, and Ratio Oil Exploration 15%. Termination rationale "The plans for development of the Leviathan discovery have significantly changed since we began...
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