London firm closes Israel's largest ever finance deal
10th September 2012
A multinational law firm based in London has helped to successfully complete a $900 million finance deal which it is believed is the largest of its kind to have ever been signed off in Israel.
Several projects experts holding some of the firm’s most important legal jobs ensured that the complex deal was successfully negotiated, which resulted in the oil giants Dor Gas Explorations, Delek Drilling and Avner Oil Exploration all being confirmed as sponsors of the upcoming development of the Tamar gas field, located off of the country’s west coast.
The potentially lucrative site was discovered in January 2009 and has caused huge excitement in the oil industry, with vital loans being provided by eleven major banks, including HSBC and Barclays. One of the partners influential in closing the transaction explained that its completion held huge significance for Israel as a whole, as it could have major implications for the future of its energy security.