Leviathan partners shake off uncertainty over gas field'' s size

The partners in Israel’s.
Leviathan natural gas field on Sunday brushed off a lower.
estimate of its size from the nation’s Energy Ministry, which.
stated the field could be 20 percent smaller than the companies.
have actually forecasted. The ministry consisted of the estimate in its approval on.
Thursday of the advancement prepare for the field. This was 17.6.
trillion cubic feet (tcf), lower than the business’ 21.9 tcf.
price quote. The ministry also said this could alter after it gets.
more drilling information on one of the task’s wells, Leviathan 5. The companies are sticking to their assessment and are.
pushing ahead with plans to bring the field online by the end of.

” The partnership clarifies that there has been no change in.
the resource price quote,” the Israeli partners stated in a statement.
to the Tel Aviv Stock Exchange. Found in 2010, Leviathan was one of the world’s largest.
offshore discoveries of the years, anticipated to bring Israel a.
major cash windfall and export offers which are waiting to be.
signed with nations like Egypt, Jordan and possibly Turkey.

Israeli corporation Delek Group, through.
subsidiaries Delek Drilling and Avner Oil,.
holds a 45.34 percent stake in Leviathan. Texas-based Noble.
Energy has a 39.66 percent share, and Israel’s Ratio Oil.
has the continuing to be 15 percent. The issue has actually had little influence on the business’ shares in.
Tel Aviv, which were primarily flat in Tel Aviv on Sunday.

Yossi Abu, president of Delek Drilling and Avner Oil,.
told Reuters they were pleased with the Energy Ministry’s.
approval, which he said included a production capability of 21.
billion cubic meters a year. “The reserves are enough to meet domestic demand and.
exporting agreements with surrounding nations as we plan,.
according to the authorized development plan,” he said. Both the companies and the ministry utilized outside energy.
consultants to come up with their quotes.

( Editing by Jane Merriman).

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