Globes: Azerbaijani company completes acquisition of 10% stake in Israeli offshore gas field

Published: 2025-06-26 08:31

"Union Energy, controlled by Israeli businessman Aaron Frenkel, has completed the allocation of 48.3% of the shares it holds in the Tamar offshore gas field, to the State Oil Company of the Republic of Azerbaijan (SOCAR). The deal, which will give SOCAR a 10% stake in Tamar, is worth an estimated $1.25 billion," reports the Israeli financial newspaper Globes.

"SOCAR joins the other partners in Tamar, which include the US energy major and field operator Chevron (25%) and the Abu Dhabi state fund Mubadala (11%)," the newspaper adds.

By Azerbaijani-Israeli Alliance Global News