. 24/7 Space News .
OIL AND GAS
Additional drilling slated for Leviathan gas field
by Daniel J. Graeber
Tel Aviv, Israel (UPI) Dec 19, 2016


disclaimer: image is for illustration purposes only

Partners behind one of the largest natural gas fields in the Mediterranean Sea said they're planning more drilling with the aim of starting production in 2019.

Delek Group and its partners at the Leviathan natural gas field off the coast of Israel announced plans for appraisal and production operations in the region. Delek Group President and CEO Asaf Bartfeld said the appraisal is part of a series of steps aimed at uncorking the field's full potential.

"These steps, as well as authorizing the Delek Group partnerships to take the final investment decision for development of the field, will allow us to comply with the timetables to produce natural gas from Leviathan by the end of 2019," he said in a statement.

Delek this year was forced to defend its development plans for Leviathan after a report from the Israeli government said that, after a review from independent analysts, the field could support production of about 20 percent less than Delek and its partners had estimated.

The Leviathan partnership approved a development plan last week that calls for production of around 1.2 billion cubic feet of natural gas per day through an investment of between $3.5 billion and $4 billion.

A good portion of the gas reserves in Leviathan are designated for exports. Early this month, the Leviathan partners reached an agreement with Dalia, the largest private power plant in Israel, to supply fuel for up to 20 years once production at the field begins, however.

In their opinion, the partners said cumulative revenue for the sales agreement "is likely to come to $2 billion," assuming Dalia takes on the full amount of gas outlined in the terms of the deal.


Comment on this article using your Disqus, Facebook, Google or Twitter login.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Oil prices recovery means Texas recovery
Houston (UPI) Dec 16, 2016
A decision by members of the Organization of Petroleum Exporting Countries to trim production in January bodes well for oil-rich Texas, a state economist said. OPEC, with the help from non-member states, agreed to cap production at around 32.5 million barrels per day starting next month in an effort to correct a market tilted toward the supply side. The decision alone was enough to hold ... read more


OIL AND GAS
Trump sits down with tech execs, including critics

Trump sits down with tech execs, including critics

NASA Tech - it's all around us

NASA Communications Network to Double Space Station Data Rates

OIL AND GAS
Ultra-Cold Storage - Liquid Hydrogen may be Fuel of the Future

Technical glitch postpones NASA satellite launch

After glitch, NASA satellite launch set for Wednesday

China develops non-toxic propellant for orbiting satellites

OIL AND GAS
Mars Rock-Ingredient Stew Seen as Plus for Habitability

ExoMars orbiter images Phobos

Mars One puts back planned colonisation of Red Planet

Opportunity team plot path forward to the 'Gully'

OIL AND GAS
Chinese missile giant seeks 20% of a satellite market

China-made satellites in high demand

Space exploration plans unveiled

China launches 4th data relay satellite

OIL AND GAS
UAE launches national space policy

Air New Zealand signs contract for Inmarsat's GX Aviation

European ministers ready ESA for a United Space in Europe in the era of Space 4.0

Nordic entrepreneurial spirit boosted by space

OIL AND GAS
Discovery to inspire more radiation-resistant metals

Researchers discovered elusive half-quantum vortices in a superfluid

Amazon aims to blur lines between game, real life

Supercomputer simulation reveals 2-D glass can go infinitely soft

OIL AND GAS
Scientists examine bacterium found 1,000 feet underground

Rings around young star suggest planet formation in progress

ALMA finds compelling evidence for pair of infant planets around young star

Who needs a body? Not these larvae, which are basically swimming heads

OIL AND GAS
Juno Mission Prepares for December 11 Jupiter Flyby

Research Offers Clues About the Timing of Jupiter's Formation

New Perspective on How Pluto's "Icy Heart" Came to Be

New analysis adds to support for a subsurface ocean on Pluto







The content herein, unless otherwise known to be public domain, are Copyright 1995-2026 - SpaceDaily. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.