Navitas makes final investment decision on Shenandoah project

AuthorGlobes correspondent
Publication Date26 Aug 2021
The total project budget is NIS 1.8 billion, with Navitas holding 49% of the rights in the reserve through subsidiary ShenHai, is $900 million. Earlier this month it was reported that the partnership had signed a finance agreement for developing the project.

The other partners in the project are Beacon Offshore Energy (20.05%) and BOE II Exploration (10.95%) owned by Blackstone, while a further 20% will be held by BOE III Shen, owned by Quantum Energy Partners.

At the same time as the final investment decision, the financial closing also took place of the project finance agreement signed, as mentioned, earlier this month.

"The Shenandoah Project will generate a great deal of value for Navitas, and we are very proud of the way we have come, from the stage of the acquisition of rights to bringing it to the development stage, while successfully keeping to all the milestones and the plans we...

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