Israel’s Delek Drilling is in talks to sell its stake in the offshore natural gas field for up to $1.1 billion, financial news website Calcalist reported on Monday.
Delek owns a 22% stake in Tamar, one of Israel’s main energy sources, which it is required to sell by the end of the year under a government framework to open the sector to competition.
The company holds a stake of about 45% of the nearby Leviathan gas field, which is larger than Tamar.
Delek Drilling, a subsidiary of Delek Group, declined to comment on the report.
Calcalist, which did not disclose its sources, said the advanced negotiations are being held with an unnamed British company.
(Reporting by Ari Rabinovitch; Editing by Steven Scheer)