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Ensco rig on location for Karish well offshore Israel

Offshore staff

TEL AVIV, Israel – The Ensco 5006 reached the Karish 1 drilling location offshore Israel in mid-March, according to partner Delek Group.

Drilling on the potential 2-tcf (57-bcm) gas prospect should last about three months with a budget estimated at $90 million.

The 9.7-tcf (275-bcm) Tamar field is on track to start production soon, Delek added. To date the Tamar partners have signed 14 contracts with various Israeli customers to supply a total of 147-168 bcm (5-6 tcf) of gas, with estimated cumulative revenue of $39 billion.

Following completion of the pre-front-end engineering and design stage by Daewoo Shipbuilding concerning a proposed floating LNG project, the Tamar partners signed an agreement with Levant LNG Marketing and Pangea LNG for completion of the FEED stage.

Levant and Gazprom Marketing & Trading Switzerland are in exclusive negotiations to sign a binding agreement for the sale of the LNG. Delek stresses that gas production from the FLNG will not impact supplies to the domestic Israeli market. Production is planned through a dedicated system that will include new development drilling wells.

3/27/2013

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