Delek Drilling and Avner Oil Exploration, Israeli firms that are part of the partnership led by Noble Energy, announced the financing for the Tamar field in the Mediterranean.
"The Tamar partners decided to approve a budget of about $265 million for drilling 'Tamar 8' and connecting to existing infrastructure in the Tamar field," Delek and Avner said in a joint statement.
The announcement comes in wake of a report on Friday that summer demand has driven gas prices to a one-year high.
(AFP)