Woodside Petroleum Limited (ASX:WPL) faces further delays in its entry into the Leviathon offshore gas project in Israel.
An MOU was signed in late February between Woodside and the Leviathon Joint Venture Partners to negotiate the sale of a 25 per cent interest in a number of petroleum licences.
However the parties have not executed the definitive agreements by yesterday’s target date and discussions will continue with a view to resolving remaining issues.
The Leviathon gas project is a large natural gas field in the Mediterranean Sea off the coast of Israel.
Woodside Petroleum recorded a net profit of more than $2 billion in the full 2013 financial year
