Noble Energy CEO angry over Tamar delays

Chuck Davidson almost walked out of a meeting in Jerusalem today with Uzi Landau.

Sources inform "Globes" that Noble Energy Inc. (NYSE: NBL) CEO Chuck Davidson almost walked out of a meeting in Jerusalem today with Minister of National Infrastructures Uzi Landau. The meeting was held under a heavy cloud, and even had to be stopped for consultations, because Davidson is angry about what he sees as significant delays in the Tamar natural gas field project.

The reason for the crisis is that Davidson is irked by Landau's refusal to accede to his demand to move forward on an alternative offshore terminal for handling the gas produced in the Tamar field. Last month, the National Council for Planning and Building delayed approval of the plan to set up a land terminal for the gas.

Despite the reported disagreement, some of those present at the meeting in Jerusalem today insisted that the discussions ended in a positive and successful way.

Noble Energy owns 36% of Tamar, Delek Group Ltd. (TASE: DLEKG) subsidiaries Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) each own 15.625%, Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) owns 28.7%, and Dor Alon Energy in Israel (1988) Ltd. (TASE:DRAL) unit Dor Alon Energy Exploration Ltd. owns 4%. Noble Energy and Delek Group jointly own Yam Tethys, and both companies are partners in the Leviathan structure, together with Ratio Oil Exploration (1992) LP (TASE:RATI.L).

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