Published on 10 June 2021 in Client Alerts

Mubadala Investments set to acquire stake in Israeli gas field

Abu Dhabi’s state-owned Mubadala Investment Company (“Mubadala”) is on track to acquire a USD 1.1 billion stake in the Tamar natural gas field (the “Tamar field”), located offshore Israel.

On 26 April Mubadala signed a memorandum of understanding with Israel’s Delek Drilling LP (“Delek”).  Delek originally aimed to sell its 22% stake in the Tamar field to Mubadala by the end of May.  Mubadala would pay up to USD 1 billion unconditionally and a further USD 100 million subject to a number of terms and goals being met.

Delek was requested by Israeli authorities to sell its stake in the Tamar field owing to its large market share.  Israel is aiming to enhance the competitiveness of its gas sector following its 2015 Gas Framework.  Delek still holds a 45.3% stake in the Leviathan natural gas field, the largest in Israel.

The Tamar field is located 90 kilometres west of Haifa and holds over 300 billion cubic metres of gas reserves.  It is operated by Chevron who holds a 25% stake.  The Tamar field began production in 2013 and it can produce 11 billion cubic metres of gas per year.

The sale would be the largest commercial operation between Israeli and Emirati parties since the 2020 Abraham Accords.  The Abraham Accords marked the normalisation of relations between the United Arab Emirates and Israel.

More Client Alerts

| Client Alerts

High Seas and beyond: High Seas Treaty, creating new international law to govern State marine activities, enters into force

On 17 January 2026, the Agreement under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas beyond National Jurisdiction (the “High Seas Treaty”) will come into force, following the 60th ratification having been deposited on 19 September 2025.   Presently, 75 of the 145 signatories have ratified

Learn more

| Client Alerts

European Union seeks to reset trade relationship with China at the 25th EU-China Summit

On 24 July 2025, at a one-day summit in Beijing, European Union (“EU”) Commission President Ursula von der Leyen and European Council President Antonio Costa met with Chinese President Xi Jinping and Premier Li Qiang to seek to reset the EU-China trade relationship.

Learn more

| Client Alerts

Central African Republic militia leaders convicted of war crimes at the International Criminal Court

On 24 July 2025, the International Criminal Court (the “ICC”) convicted two former Central African Republic (“CAR”) militia leaders of multiple war crimes and crimes against humanity.

Learn more

| Client Alerts

India and the United Kingdom sign landmark trade agreement

In July 2025, India and the United Kingdom (the “UK”) signed an historic free trade agreement (“FTA”).  According to the UK Government, the new FTA marks the “biggest and most economically significant new bilateral FTA” since Brexit.

Learn more
View all