Signs Of New Natural Gas Field Found Off Israel Coast

Posted by Greg Trauthwein
Sunday, April 27, 2014
 An oil and gas group exploring offshore Israel said on Sunday it may have discovered a field that contains an estimated 2.5 trillion cubic feet (tcf) of gas and 255 million barrels of oil.
 
About 30 tcf of gas have been discovered off Israel's Mediterranean coast in recent years, turning the country once dependent on energy imports into a potential exporter.
 
The latest announcement, which was based on 3D seismic data from 2012, covers the Oz license some 50 km (30 miles) from the coastal city of Herzliya in water 1,150 meters (yards) deep.
 
The license is shared by Lapidoth-Heletz with a 41.5 percent stake, Frendum Investments with 21.5 percent, Coleridge Gas and Oil with 12 percent, Israel Opportunity and Placida Investment each with a 10 percent stake, and Azerbijan-based Caspian Drilling with the remaining 5 percent.
 
Lapidoth-Heletz said a report by Texas-based consultants Netherland, Sewell & Associates estimated a 23-27 percent chance of success for finding the 2.5 tcf of gas and a 16-18 percent chance for finding 255 million barrels of oil.
 
"(Oz's) proximity to reserves where producible amounts of natural gas and oil have been found strengthened our opinion that the license holds significant amounts of gas and oil," said Eli Kamar, chief executive of Lapidoth-Heletz.
 
(Reporting by Ari Rabinovitch, Reuters)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Migrants Survivors Tell of Struggle at Sea

The bodies of 21 women and one man were brought ashore to Sicily on Friday as fellow migrants described scenes of panic and violence when water poured into their dinghy.

Three Keppel Dredgers for Jan De Nul

Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Jan De Nul Group to

Seacat Services Sends Freedom to Race Bank

Seacat Freedom, the latest addition to Seacat Services’ 12-strong fleet, has been dispatched to DONG Energy’s Race Bank offshore wind project following the boat’s

Energy

Ithaca’s FPF-1 platform to be moved to Stella field

Ithaca Energy Inc. reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland.

Libya's PFG to Lift Terminal Blockades

Petroleum Facilities Guard has blocked terminals for months. Ras Lanuf, Es Sider terminals damaged by fighting. Libya's Petroleum Facilities Guard (PFG) will

Unipec: U.S. ANS Destined for Sinopec

Arbitrage opens after ANS discount widen on ample supplies. Unipec, the trading arm of top Asian refiner Sinopec, has bought two U.S. crude cargoes, including

Offshore Energy

Ithaca’s FPF-1 platform to be moved to Stella field

Ithaca Energy Inc. reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland.

Boskalis Awarded Aberdeen Offshore Wind Farm Contract

Royal Boskalis Westminster N.V. (Boskalis) has been awarded the Offshore Balance of Plant contract by Vattenfall for the construction of Aberdeen Offshore Wind Farm,

Drydocks World Conforms to FPC under EU Regulation

Drydocks World, the international service provider to the shipping, offshore, oil, gas and energy sectors has successfully been certified to European Standards EN 1090 – 1 and EN 1090-2.

Seismic Vessel Tech

PGS Revenue Slumps

Petroleum Geo-Services ASA reported revenue fall in their recently released Second Quarter and First Half 2016 Results. It logged a healthy MultiClient Sales and

TGS Provides Second Quarter Update

Based on preliminary reporting from operating units, TGS management expects net revenues for the second quarter of 2016 to be approximately USD 114 million. Multi-client

 
 
Maritime Contracts Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0733 sec (14 req/sec)