Woodside to Invest Up to $2.6 Billion in Israeli Gas Venture
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Woodside Petroleum Ltd., Australia’s second-largest oil producer, plans to buy a quarter of Israel’s biggest natural gas field for as much as $2.6 billion under a revised agreement as demand rises in the Middle East.
Woodside agreed to pay Noble Energy Inc. and its partners in the Leviathan venture an initial $850 million when the deal is completed, due by the end of next month, the Perth-based company said today in a statement. The stake is smaller than the 30 percent negotiated in a December 2012 deal worth as much as $2.3 billion, though the estimated size of the resource rose to