US Noble Energy is looking to sell off part of its stake in Aphrodite field. Its Israeli partner, Delek Group is negotiating with Noble to buy an additional 19.9% at a cost of around US$155 million.
Currently, Noble holds a 70% stake in the field located in Bloc 12, off South Cyprus and estimated to contain 4.54 trillion cubic feet of natural gas. Delek, through two subsidiaries, holds the remaining 30%.
However, negotiations are at an early stage and any agreement would require a variety of regulatory approvals, Delek has said.