Noble-led Israeli well program nearing targets

Delek Group has issued an update on various exploration drilling programs it is participating in offshore Israel via its subsidiary Delek Drilling.

Offshore staff

TEL AVIV, Israel – Delek Group has issued an update on various exploration drilling programs it is participating in offshore Israel via its subsidiary Delek Drilling.

According to Noble Energy Mediterranean, operator of the Tamar I/12 lease area, the semisubmersible Transocean Sedco Express should relocate shortly to complete operations on the Leviathan 3 well in the 350/Amit license area.

Drilling of Leviathan 3 had to be suspended following technical problems with the subsea equipment used by the Pride North America rig (since re-named Ensco 5006). Once the well has been re-entered, drilling should be completed by mid-November.

Thereafter, the Transocean Sedco Express will likely drill up to two further exploratory wells before returning to the Tamar I/12 lease area for development work. The PNA drilling rig recently arrived at the Dolphin 1 well site in the 351/Chana license area, and should restart drilling operations here by early December following repairs to the rig’s riser system. Noble estimates the overall cost of this well at $55 million.

Another rig, Noble Corp’s Homer Ferrington, has completed the Noa 2 and Noa 3 offshore wells in the Noa 1/7 lease two weeks ahead of schedule and below the budgeted cost. Noble Energy expects completion work on the Noa North development project to start during the first half of 2012.

Homer Ferrington is currently engaged in exploratory drilling in block 12 off Cyprus.

10/06/2011

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