Leviathan
and Tamar partner Noble Energy Inc.(NYSE:NBL) estimates that
its licenses in the Levant Basin potentially have three million barrels of oil
as well as four trillion cubic feet (TCF) of natural gas on top of its
discoveries at Tamar, Leviathan and Cyprus's Block 12. It made the estimate at
a UBS oil and gas conference on Wednesday.
Commenting
on the cancellation of the farm-out of 25% of Leviathan toWoodside
Petroleum Ltd.(ASX:WPL) for $2.71 billion, Noble Energy chairman
and CEO Charles Davidson said that since the negotiations began two years ago,
there have been significant changes in Leviathan's development plan. The
appearance of markets in countries in the region to which gas can be delivered
by pipeline has pushed off the need to build an liquefied natural gas (LNG)
plant to the second stage of Leviathan's development. "Although we were
unable to reach a deal with Woodside, we're continuing to move forward with our
partners and the Israeli government in the development plan for this
world-class field for the good of the stakeholders," he said.
Noble
Energy is partnered with Delek Group Ltd.(TASE:DLEKG),
controlled by Yitzhak Tshuva, in Tamar, Leviathan, and Block 12. Isramco Negev
2 LP (TASE:ISRA.L) and Alon Natural Gas Exploration Ltd. (TASE:ALGS)
are also partners in Tamar, and Ratio Oil Exploration (1992) LP (TASE:RATI.L)
is the third partner in Leviathan.