This is how much Woodside is prepared to pay for a 30% stake in a company 130Km's off shore with HUGE sovereign risk and 5 years away from production.
Baharat was one lucky company to get on board early, they will be their to protect NWE because IMO there is no doubt they do not want another major taking over, they want to be the big fish in this relationship.
Australia’s Woodside Petroleum has confirmed that it has submitted a bid to gain a stake in the Leviathan gas field, off Israel.
It was earlier reported that Woodside had submitted a bid that would give it a 30% share in the gas field.
On Tuesday, the Australian independent confirmed it had made a bid for an interest in the 349/Rachel and 350/Amit petroleum licences, which cover the Leviathan field.
“Woodside advises that it is in an early phase of a competitive bidding process with the licence holders,” the company revealed in a statement, however it added any speculation about price and commercial terms was “premature”.
Reports on Monday suggested Woodside’s bid for 30% of the rights to Leviathan’s licences reflected a $7.5 billion value for Leviathan.
The Leviathan field, discovered in 2010, has an estimated 17 trillion cubic feet of gas, making it the largest deep-water natural gas find of the past decade.
Russian gas giant Gazprom has also been reported to be a leading contender for a stake in Leviathan, while Korea Gas Corporation is also said to be in the running.
Check out this recent article below.
US player Noble Energy currently holds a 39.66% stake in Leviathan, Israel’s Delek Group has 45.34% through units Avner Oil & Gas and Delek Drilling, and Ratio Oil Exploration holds the remaining 15%.
Woodside has been looking to expand its international operations in recent times and earlier this year it submitted a bid for a block off Cyprus with joint venture partners Edison International, Enel Trade and Delek Group.
Last week the company announced it had had reached a deal with South Korea’s Daewoo International to earn a 40% share in a production sharing contract in the Rakhine basin, off Burma.
Source: Upstreamonline, Sat 10th Novemeber 2012
Add to My Watchlist
What is My Watchlist?