TORONTO -- The partners in the Sara and Myra licenses offshore Israel have completed acquisition and processing of 3D seismic.
According to Bontan, which has an indirect interest via IPC, one of the venture partners, results of the first phase of interpretation are being submitted to the Israeli government department MNI.
By Dec. 31, the partners expect to agree on a drilling prospect on each license and associated engineering requirements. They will likely appoint a drilling contractor by end-March, with a view to drilling the first well during summer 2011.
Bontan adds that it is inviting bids to participate in its 10.45% interest in the licenses through a farm-out, partial sale of interest, debt, or equity financing.
Sarah and Myra cover around 310 sq mi (903 sq km) in the Levantine basin near Noble Energy’s 8.4 tcf Tamar 1, Tamar 2, and Dalit natural gas discoveries.
Partners firming up Sara, Myra drilling plans
The partners in the Sara and Myra licenses offshore Israel have completed acquisition and processing of 3D seismic.