In a landmark 26 April announcement, Israeli firm Delek Drilling unveiled plans to divest its 22% direct stake in the 10.5tcf Tamar gas field to investors led by Abu Dhabi state firm Mubadala Petroleum. This would be by far the largest deal yet between the two countries and shows that the UAE is fully committed to normalizing relations with Israel.
Mubadala Petroleum is a wholly owned subsidiary of Abu Dhabi state investor Mubadala, which is chaired by Crown Prince Muhammad Bin Zayed. Its planned move into Israel’s upstream carries with it the full weight of the UAE’s political establishment. (CONTINUED - 1041 WORDS)
