Noble: Offshore Israel Update

Noble-led Israeli well program nearing targets

Published: Oct 6, 2011

Offshore staff
TEL AVIV, Israel – Delek Group has issued an update on various exploration drilling programs it is participating in offshore Israel via its subsidiary Delek Drilling.

According to Noble Energy Mediterranean, operator of the Tamar I/12 lease area, the semisubmersible Transocean Sedco Express should relocate shortly to complete operations on the Leviathan 3 well in the 350/Amit license area.

Drilling of Leviathan 3 had to be suspended following technical problems with the subsea equipment used by the Pride North America rig (since re-named Ensco 5006). Once the well has been re-entered, drilling should be completed by mid-November.

Thereafter, the Transocean Sedco Express will likely drill up to two further exploratory wells before returning to the Tamar I/12 lease area for development work. The PNA drilling rig recently arrived at the Dolphin 1 well site in the 351/Chana license area, and should restart drilling operations here by early December following repairs to the rig’s riser system. Noble estimates the overall cost of this well at $55 million.

Another rig, Noble Corp’s Homer Ferrington, has completed the Noa 2 and Noa 3 offshore wells in the Noa 1/7 lease two weeks ahead of schedule and below the budgeted cost. Noble Energy expects completion work on the Noa North development project to start during the first half of 2012.

Homer Ferrington is currently engaged in exploratory drilling in block 12 off Cyprus.

Noble Energy: Eastern Mediterranean Activity

 Leviathan Field is the largest discovery in Noble's history at estimated recoverable gas reserves of 16 TCF gross. See earlier post for seismic section through Leviathan. Noble has had continued success, Aphrodite is next!

Delek Tamar Gas Field Offshore Israel

This is a real gamechanger for Israel and the energy balance in the Middle East. Put Noble Energy on your watchlist.....there are still a number of hurdles to overcome before this discovery is placed online!

More than 100 years of Reserves for Israel at Leviathan Offshore Energy Today: "More than 100 years of Reserves for Israel at LeviathanPosted on Jun 4th, 2010 with tags $100, Israel:, Leviathan, More, News, Reserves, years.

There are more than 100 years of reserves for Israel at Leviathan.
“Today is a holiday for every citizen of Israel. It’s a day of joy,” Delek Group Ltd. (TASE: DLEKG) controlling shareholder Yitzhak Tshuva said at a conference of Delek subsidiary Israel Phoenix Assurance Ltd., referring to the results of the 2D and 3D seismic surveys of the offshore Leviathan structure.
Tshuva went on to say, “The results indicate that in addition to the gas, there are signs of oil at a greater depth. We have turned Israel into a great energy power.”
Tshuva said, “Israel is energy independent. The results of the survey are very important; they are above and beyond. They mean that the future potential of Leviathan is more than double the Tamar discovery.”
Tshuva added, “There are more than 100 years of reserves for Israel at Leviathan. Far more than the gas found before. Israel is completely energy independent. Thanks to the discovery, Israel will become a player in the global energy market, and will supply energy to many other countries.” He said that the Israel will become a gas exporter.
Tshuva said that the Leviathan gas discovery was a national event. “The results will strengthen Israel’s economy and guarantee its soundness. In today’s hard times, Israel needs strengthening against the world.”"