The partners in two large Israeli offshore natural gas fields said they will soon begin drilling in another nearby field.
The partners in two large Israeli offshore natural gas fields said they
will soon begin drilling in another nearby field.
The new field, Eran, which is located off Israel's northern coast is estimated
to contain about 684 billion cubic feet of gas, a much smaller amount than the
partners' nearby Tamar and Leviathan fields.
The partners, which include Houston-based Noble Energy Inc. (NBL), and Israeli
companies Delek Drilling Ltd. Partnership (DEDRL.TV), Avner Oil Exploration
L.P. (AVNRL.TV), and Isramco Negev 2 L.P. (ISRAL.TV), said they plan to spend
$122 million on drilling in Eran. That budget doesn't include production tests.
The recently-discovered fields of Tamar and Leviathan, are expected meet all of
Israel
's
natural gas needs for at least three decades, as well as make
Israel
an
exporter of gas. Although the companies involved, and the Israeli government,
have expressed interest in selling gas to neighboring countries, including
Jordan
and
Egypt
, no
contracts have been signed.
The Tamar field, which began production in March, contains about 9 trillion
cubic feet of gas, and Leviathan has about 19 trillion cubic feet of gas. The
new drilling plans are the latest development in
Israel
's
growing energy production sector.
At 1215 GMT, shares of Isramco were up 0.016 shekels, or 2.59%, at ILS0.634
($0.174); shares of Delek Drilling were up ILS0.61, or 3.94%, at ILS16.08; and
shares of Avner were up ILS0.09, or 3.41%, at ILS2.732, in a higher Tel Aviv
market.
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