Further well spud imminent offshore Israel

Delek Group has confirmed that Noble Energy and its partners will drill the Karish #1 exploration well on the Alon C license offshore Israel.

Offshore staff

TEL AVIV, Israel – Delek Group has confirmed that Noble Energy and its partners will drill the Karish #1 exploration well on the Alon C license offshore Israel.

A report by consultants Netherland, Sewell & Associates highlighted potential for gas in three reservoirs in the structure, with a chance of success of 77%, and a strong likelihood of commerciality, based on previous experience developing similar fields in the area.

A budget of $90 million has been approved, with drilling expected to start soon and to last around three months.

In addition, Delek says theTamar project participants have approved an increase in the development budget of roughly $100 million, bring the new total to $3.2 billion.

3/15/2013

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