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Harel Insurance Investments and Financial Services Ltd (HARL.TA)

HARL.TA on Tel Aviv Stock Exchange

27 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Noble Energy says sells 3 pct interest in Tamar Field for $369 mln
Tuesday, 5 Jul 2016 07:00am EDT 

Noble Energy Inc : Noble Energy sells three percent interest in Tamar Field, offshore Israel, for $369 million . Harel, IIF have option to elect, before closing, to purchase additional 1 percent working interest from Noble Energy at same valuation . Noble Energy and partners are planning to drill and complete an additional development well at Tamar Field . Drilling is anticipated to commence in Q4 of 2016 . No material change to company's overall 2016 capital program . Closing for transaction is anticipated in Q3 of 2016, with after-tax proceeds received expected to be about $275 million .Drilling at Tamar Field is anticipated to commence in Q4 of 2016.  Full Article

Israel's Harel to buy Tamar gas field stake from Noble

TEL AVIV Harel Insurance Investments and Financial Services and the Israel Infrastructure Fund (IIF) are to buy 3 percent of the Tamar natural gas field from Texas-based Noble Energy for $369 million.