Israeli energy exploration company Isramco Negev 2 Ltd. Partnership (ISRA.L.TV) said Monday production tests at its offshore Shimshon natural gas field indicated a daily natural gas flow of 22.7 million cubic feet.

The field, deep under the Mediterranean Sea , likely contains up to 2.3 trillion cubic feet of natural gas. Israel 's largest gas fields, Tamar and Leviathan, contain 9 trillion and 16 trillion cubic feet of gas respectively.

The production tests, successfully completed over the last month, at Shimshon cost $33.7 million, of which Isramco paid $13 million.

Isramco and its affiliates own 60% of the Shimshon field, and Houston-based ATP Oil and Gas Corp. (ATPG) owns 40%. Most of Israel 's other natural gas fields are owned partly by Delek Group Ltd. (DLEKG.TV) and its subsidiaries, as well as by Houston-based Noble Energy Inc. (NBL), but Delek and Noble aren't involved in the Shimshon field.

Despite the large natural gas discoveries in recent years, Israel is currently experiencing a natural gas shortage, which could result in electric grid rolling blackouts this summer.

Israel 's natural gas supply from Egypt has been interrupted numerous times since late 2010, when political unrest began there, eventually resulting in regime change. And Israel 's Tamar and Leviathan field, which hold enough gas for energy independence, are not yet ready for production. In the meantime, Israel has had to purchase more expensive sources of energy, including diesel, which has driven up electricity prices. Relief is expected next year when the Tamar field is scheduled to begin production.

At 0940 GMT, shares of Isramco were down 0.003 shekels, or 0.65%, at ILS0.46 ($0.11) in a higher Tel Aviv market.

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