Noble Energy Exits Ruth C Licence Offshore Israel

Noble Energy has decided to relinquish exploration licence for the Ruth C field, Noble’s Israeli partners Delek Group said last week.

“Delek Group's gas subsidiaries announced that on March 25, 2015, Noble Energy Mediterranean Ltd., the operator in Ruth C/360 license, announced to the Partnerships with regard to its retirement of the Ruth C license and Joint Operating Agreement which is applicable to them,” Delek announced on Thursday.

The decision was taken in part due to the current regulatory uncertainty in Israel and taking into account the risks involved in the exploration license, the statement said.

Ruth C field is located offshore Haifa, east of the larger Tamar basin. 

With exit of Noble from the partnership, Delek has approached the Petroleum Commissioner in Minister of National Infrastructures, Energy and Water recourses requesting the extension of the timetable specified in the work plan that requires a license for the period during which an alternative operator will be found

In December, Israel’s anti-trust regulator said that a partnership between the US-based Noble Energy and Israel’s Delek Group constituted a cartel and would have to be broken apart or sell off certain holdings.

Earlier this month, the Palestine Power Generation Company (PPGC) cancelled a deal to buy natural gas from Leviathan field off Israel citing delays in development of the project due to regulatory issues.