Noble Energy: "Continuing to work with Israel to develop Tamar, Leviathan"

HOUSTON -- Noble Energy reports that it is continuing to work diligently with the government of Israel to address matters necessary to facilitate the development of its world class discoveries at Tamar and Leviathan and ensure a stable investment climate.

David L. Stover, Noble Energy's Chairman, President and CEO, commented: "Under the leadership of the Prime Minister and the Minister of Energy and Water Resources, a regulatory framework meeting these objectives has been overwhelmingly approved by the Israeli cabinet and yesterday was presented to the Knesset. It is imperative that the government of Israel follow through on this approved framework without further delay. Noble Energy remains fully prepared, and is well positioned, to take the actions necessary to protect the value of its assets."

"Regional demand supports the further development of our world class Tamar and Leviathan fields. Noble Energy continues its ongoing discussions with natural gas customers throughout the region, and yesterday the government of Egypt publicly reiterated its support for the import of gas from Israel for both domestic and LNG export purposes. We are confident that the quality of our Israel assets, extensive appraisal and planning efforts, and proven track record of project execution and operating performance position us well to supply natural gas to the substantially underserved regional market."