NewMed Power, which holds a forty five.34% stake at Israel’s key 23tcf Leviathan and 30% stake at Cyprus’ 3.5tcf Aphrodite, each operated by US main Chevron, is to enter Bulgaria, taking 50% of the Black Sea Block 1-21 Han Asparuh from OMV Petrom, the Israeli agency introduced on 28 November.
NewMed will cowl the price of the primary two wells on the block, as much as €100mn. In addition to Israel and Cyprus, NewMed additionally has 37.5% stakes within the large Boujdour Antlantique offshore Moroccan-controlled Western Sahara (MEES, 19 December 2022), while mum or dad firm Delek has substantial North Sea output through its 57.7% stake alongside Eni in Ithaca Power. (CONTINUED – 100 WORDS)
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