Azerbaijan's SOCAR has acquired a 10% stake in Israel's Tamar gas field from Aaron Frenkel, a major deal for the Israeli businessman. The sale follows Frenkel's recent sale of a 2% stake in Bank Leumi. SOCAR's investment in Tamar has major geopolitical implications and strengthens economic stability in the Middle East. Chevron, which owns a 25% stake in Tamar and operates the field, has reportedly approved of SOCAR's investment. The deal promotes economic ties between the US, Azerbaijan, and Israel and encourages strategic cooperation in various fields.
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