Noble Energy Signs Gas Sales Agreement with Israel Electric

Noble Energy, Inc. and its partners Delek Drilling Limited Partnership, Avner Oil Exploration Limited Partnership and Delek Investments and Properties Ltd. formally executed the final definitive agreement with Israel Electric Corporation Limited for the sale of natural gas to Israel Electric Corporation Limited.

Progress on the construction of the jacket, platform and other production equipment continues to move forward on schedule and costs remain within budget. The jacket and platform are scheduled for shipment to Israel this winter. Installation of the jacket, platform and related production facilities are expected to be completed during the third quarter of 2003.


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