Tamar partners assess tieback costs for latest discovery

Delek Group has issued a reserves update for last year’s deepwater Tamar SW gas discovery offshore Israel.

Feb 3rd, 2014

Offshore staff

TEL AVIV, Israel – Delek Group has issued a reserves update for last year’s deepwater Tamar SW gas discovery offshore Israel, which is operated by Noble Energy.

The best-case scenario is 917 bcf (26 bcm), compared with 540 bcf (15 bcm) under the previous assessment. Analysis of the well suggests the quality of the reservoir is higher than forecasted pre-drill.

Tamar SW’s reservoir also has a gas-to-condensate ratio similar to that found in the main Tamar reservoir.

Delek estimates the Tamar SW drilling, completion, and development costs at $94 million, plus an additional $32 million in later years if recompletion is required.

Costs of completion and connection of the Tamar SW well to theTamar infrastructure will be high due to the distance of the well from the Tamar subsea manifold and the timing of its drilling and development as a standalone well.

02/03/2014

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