Large reserves of Natural Gas found in offshore Israel field
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-Pastor-Dale-Morgan-
Feb 5, 2012, 8:02:33 PM2/5/12
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Large reserves of Natural Gas found in offshore Israel field
AFP
February 06, 2012 7:37AM
AN Israeli company yesterday said it had discovered "significant amounts of natural gas" after drilling off the country's Mediterranean coast, in a report to the Tel Aviv stock market.
The Delek Energy company, which partnered with US company Noble Energy to conduct the offshore drilling, estimated last August that the "Tanin 1" field could yield 34 billion cubic metres of gas.
Delek said yesterday that exploratory drilling at the site, 120 kilometres northwest of Israel's northern city of Haifa, had now reached the final depth of 5500 metres.
"The partnership has reached the conclusion that significant signs of natural gas were discovered in the drilling," the statement said.
Delek and Noble have already struck gas offshore at the Tamar and Leviathan fields, 130 kilometres off Haifa.
Leviathan is believed to hold some 450 billion cubic metres of gas and Tamar some 238 billion.
In June, an Israeli company announced the discovery of two new natural gas fields, Sarah and Mira, around 70 kilometres off Hadera farther south along the coast.
These finds could sharply reduce Israeli dependence on imports from neighbouring Egypt, which currently supplies about 43 percent of its natural gas needs.
Yesterday, saboteurs blew up a pipeline that supplies gas from Egypt to Israel in the 12th such attack within a year.
Israel generates 40 percent of its electricity using natural gas, and Egypt provides 43 percent of its gas supplies.
Also yesterday, Israel's government approved building the first rail link between its Mediterranean and Red Sea coasts.
Israeli officials say a so-called "Med-Red" railway could be used for future exports of gas to India, and possibly China, from the Mediterranean fields currently under development.
Large reserves of Natural Gas found in offshore Israel field
AFP
February 06, 2012 7:37AM
AN Israeli company yesterday said it had discovered "significant amounts of natural gas" after drilling off the country's Mediterranean coast, in a report to the Tel Aviv stock market.
The Delek Energy company, which partnered with US company Noble Energy to conduct the offshore drilling, estimated last August that the "Tanin 1" field could yield 34 billion cubic metres of gas.
Delek said yesterday that exploratory drilling at the site, 120 kilometres northwest of Israel's northern city of Haifa, had now reached the final depth of 5500 metres.
"The partnership has reached the conclusion that significant signs of natural gas were discovered in the drilling," the statement said.
Delek and Noble have already struck gas offshore at the Tamar and Leviathan fields, 130 kilometres off Haifa.
Leviathan is believed to hold some 450 billion cubic metres of gas and Tamar some 238 billion.
In June, an Israeli company announced the discovery of two new natural gas fields, Sarah and Mira, around 70 kilometres off Hadera farther south along the coast.
These finds could sharply reduce Israeli dependence on imports from neighbouring Egypt, which currently supplies about 43 percent of its natural gas needs.
Yesterday, saboteurs blew up a pipeline that supplies gas from Egypt to Israel in the 12th such attack within a year.
Israel generates 40 percent of its electricity using natural gas, and Egypt provides 43 percent of its gas supplies.
Also yesterday, Israel's government approved building the first rail link between its Mediterranean and Red Sea coasts.
Israeli officials say a so-called "Med-Red" railway could be used for future exports of gas to India, and possibly China, from the Mediterranean fields currently under development.
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