Noble Energy to drill new deepwater prospect offshore Israel

Noble Energy Mediterranean and its partners have agreed to drill an exploration well on the South West Tamar prospect offshore Israel.

Offshore staff

TEL AVIV, Israel – Noble Energy Mediterranean and its partners have agreed to drill an exploration well on the South West Tamar prospect offshore Israel. The structure is in the Tamar I/12 lease and Eran/353 license in the Levantine basin.

A report by consultants Netherland Sewell and Associates estimates potential gas resources at 684 bcf (19 bcm), with a 90% probability of success.

According to Delek Group, parent company of two of the license partners, the budgeted cost of the well is $122 million, excluding production tests.

Drilling is expected to start soon after drilling and production testing of theAphrodite A-2 well offshore Cyprus, and will last around four months.

Planned water depth for the Tamar SW well is around 1,650 m (5,513 ft), with a total drilling depth of 5,300 m (17,388 ft) below sea level.

9/12/2013

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