Thursday, December 30, 2010

Israel: On Ground Updates - December 30, 2010

Israel: On Ground Updates
Massive Offshore Reserve Holds $45 Billion in Natural Gas
Thursday, December 30, 2010
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- Noble Energy, Inc File Photo -
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* JPost.com brings us the following report and it starts off like this... An offshore natural gas reserve contains some 16 trillion cubic feet of gas worth an estimated $45 billion, an energy corporation which owns a share of the project said on Wednesday... Noble Energy Inc., which owns 39.66% of the prospect, said the massive store of natural gas in the “Leviathan” reserve – the largest of its kind discovered in the world in the last decade – “has the potential to position Israel as a natural gas- exporting nation.”...
Read the full report at link below...
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* Noble Energy, Inc. had the following Press Release posted up on their website on December 29th and it goes in part like this...
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Leviathan-1, located in approximately 5,400 feet (1,645 meters) of water, is about 80 miles (130 kilometers) offshore of Haifa and 29 miles (47 kilometers) southwest of the Tamar discovery. The results from the well confirm the pre-drill estimated resource range, with a gross mean for Leviathan of 16 trillion cubic feet (450 billion cubic meters). The Leviathan field is estimated to cover approximately 125 square miles (325 square kilometers) and, as a result of its size, will require two or more appraisal wells to further define total gas resources.
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Charles D. Davidson, Noble Energy's Chairman and CEO, said, "Leviathan is the latest major discovery for Noble Energy and is easily the largest exploration discovery in our history. In the past two years, we and our partners have made three significant natural gas discoveries in the Levantine basin. Total gross mean resources discovered are estimated to be approximately 25 trillion cubic feet (700 billion cubic meters), with nearly 8.5 trillion cubic feet (240 billion cubic meters) net to Noble Energy's interest. The Leviathan discovery has further confirmed our geologic models and interpretation of this basin and validates that it contains significant natural gas resources."...
Read the rest at link below...
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AubreyJ.........

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