ALBAWABA - Mediterranean subsidiary, the operator of the Tamar gas field project, has received notification from the Israeli Ministry of Energy to cease production in the field.
Chevron holds a 25% stake in the Tamar field and is the second-largest partner after "Isramco Negev," which owns approximately 29%.
(Shutterstock)
The Israeli Ministry of Energy announced last week its intention to increase natural gas production from the offshore Tamar field and boost exports to Egypt, which is facing rising demand and declining production.
The ministry further stated that exports to Egypt would increase by an additional 38.7 billion cubic meters of natural gas over 11 years, with production growing by 60%, or 6 billion cubic meters annually, starting in 2026.
