As part of the deal, Woodside will acquire 9.66% from Noble Energy, 5.73% each from Avner Oil Exploration and Delek Drilling, as well as 3.87% from Ratio Oil Exploration in the project.
Woodside will become the operator of any LNG development of the field, following completion of the transaction.
Noble Energy chairman and CEO Charles Davidson said the partnership is pleased to execute this MoU with Woodside who brings extensive global expertise in LNG operations and marketing to the partnership.
"Their addition to the project will result in substantial added value while also bringing us much closer to when we will be able to sanction Leviathan for development," Davidson added.
The Leviathan project, which has an estimated 19 Tcf of discovered natural gas resources, is located on the Rachel and Amit licenses in 5,550ft of water.
Leviathan field off the coast of Israel is estimated to have about 540 billion cubic metres of natural gas.
