Azerbaijan's SOCAR has finalized a deal to acquire a 10% stake in one of Israel's largest gas fields - Tamar. This is reported by Azerbaijani media.

The total amount of the deal is estimated at $1.25 billion.

The deal became possible due to SOCAR's purchase of stakes in two companies - Union Energy and Tamar Petroleum.

SOCAR acquired 48.3% of Union Energy shares, which provided it with 7% participation in the Tamar project. The company gained another 3% in this project through the purchase of 17.9% of Tamar Petroleum shares.