Gas reserves at the Israeli
Leviathan field have been given a 16% boost, according to field partners.
Based on an independent report by Netherland,
Sewell & Associated, the already-large gas field has been estimated to that
much bigger.
On Sunday, the partners announced that reserves
estimates had jumped on 18.9 trillion cubic feet to 21.93Tcf.
The high estimate was raised by 10% to
26.52Tcf, while the low estimate jumped 11% to 16.58Tcf, according to Reuters.
The Leviathan discovery off the Mediterranean
coast is the largest offshore gas find in the past decade.
Production is expected to start from the field
in 2017.
Texan player Noble Energy is the operator of
the field and holds a 39.66% interest, while Avner Oil and Ration oil have a combined
45.34% and Ratio Oil on 15%.
Australia
’s Woodsidewas set to be a
major partnerin the project but decided it was not commercially viable
for the company and pulled out.
The Israeli government has allowed exports of
up to 40% of the gas reserves.
Last
month,the partners signed a preliminary agreement with UK player BG Groupto
negotiate a deal to export gas to the company’s liquefied natural gas project
in Egypt.