$1.75 Billion financing for the development of the Leviathan gas field

Bracewell (UK) LLP is serving as counsel to Delek Drilling and Avner Oil Exploration on a $1.75bn financing for the development of the Leviathan gas field (Leviathan), offshore Israel.

Delek announced on 26 November, 2016 a commitment letter was signed with HSBC Bank Plc and J.P. Morgan Ltd, as 50/50 underwriters, to sign a limited recourse project financing transaction all of whose terms have been agreed.

Leviathan’s natural gas reserves, located in the Mediterranean Sea, are estimated at 22 trillion cubic feet, with an estimated 600 million barrels of oil under the gas layer.

Bracewell has advised with a team including Jason Fox (Picture), Olivia Caddy, Darren Spalding, Suchita Woodward, Eimear Murphy, Adam Blythe and Luka Pavlovic

Involved fees earner: Jason Fox – Bracewell & Giuliani; Olivia Caddy – Bracewell & Giuliani; Suchita Woodward – Bracewell & Giuliani; Eimear Murphy – Bracewell & Giuliani; Darren Spalding – Bracewell & Giuliani; Adam Blythe – Bracewell & Giuliani;

Law Firms: Bracewell & Giuliani;

Clients: Delek Group Ltd.;

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