The Council of Ministers will assess on January 18 a proposal submitted by Energy Minister Yiorgos Lakkotryptis on the entry preparation of British Gas (BG) to the group of Block 12.
Under the proposal, US Noble Energy will remain as the blocks operator with a 35% stake, BG will hold 35% and the remaining 30% is held by Delek Group. Total cash consideration was $165 million.
Block 12 contains the Aphrodite gas field estimated to hold a gross mean resource of 4.5 trillion cubic feet of natural gas.