Daewoo Signs Deal to Develop Israel's Tamar Gas Field

Daewoo signs deal to develop Israel's Tamar gas field

South Korean major Daewoo Shipbuilding & Marine Engineering said Tuesday that it had signed an agreement to develop Israel's Tamar natural gas field with Noble, Delek Group and Isramco Inc.

Daewoo expects to produce liquefied natural gas from the field by the end of 2016. Estimates put the field to have 240 billion cubic meters of natural gas.

The company did not specify the size of its stake in the development deal or its value.