Israeli firm Delek has sold its interests in the Tamar and Dalit leases in the Mediterranean for $980million.
Delek, which bought Ithaca Energy earlier this year, expects to book a profit of $550million from the sale in its financial statements as at September 30, 2017.
The firm also said the Leviathan 5 appraisal and production well in the Mediterranean Sea is approaching completion.
The project partners will then terminate the contract for the Atwood Advantage rig so that they can select a cheaper option for the next job, Leviathan 7.
Delek said the two jobs would come in at $106million, well below the $148million budgeted.
The project partners aim to start gas production from the field in late 2019.
Partners include Delek, Noble Energy and Ratio Oil Exploration.