Israeli energy company Delek Drilling has signed the final agreement for the US$1.1-billion sale of its 22 percent stake in Israel’s second-biggest natural gas resource, the Tamar field, to Mubadala Petroleum of the United Arab Emirates.

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Delek Group, the Israeli company with key East Mediterranean natural gas assets, said the Leviathan gas field offshore Israel was regularly producing high volumes for export to Egypt and Jordan and planned to boost the flow amid regional advances in LNG projects.

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Delek Group of Israel, the company with stakes in the huge Leviathan field in the Eastern Mediterranean set to come on stream to supply Egypt and regional buyers and with LNG output plans, said its Ithaca Energy subsidiary completed the purchase of the UK North Sea oil and natural gas assets from Chevron Corp. for around $2 billion.

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