Gas, condensate output rises at Tamar offshore Israel

Delek Group has issued an update on progress at the Tamar and Leviathan projects offshore Israel.

May 28th, 2015

Offshore staff

TEL AVIV, Israel - Delek Group has issued an update on progress at the Tamar and Leviathan projects offshore Israel.

During Q1 2015, production from Tamar and Israel’s shallow-water Yam Tethys complex totaled 1.97 bcm, up from 1.7 bcm during the corresponding quarter in 2014.

In addition, Tamar sold 93 MMbbl of condensate, up from 76 MMbbl the previous year.

On April 2, the Prime Minister of Israel, Minister of National Infrastructure, Energy and Water Resources, and the Petroleum Commissioner of Energy and Water Resources, approved the export of fixed quantities of natural gas from the agreement signed by the Tamar partners in February last year with NBL Eastern Mediterranean Marketing.

The latter had signed back to back agreement with two Jordanian enterprises, Arab Potash Company and Jordan Bromine Company.

In May Israel Electric Corporation (IEC) partially exercised a second option to take a maximum of 87 bcm instead of 99 bcm from Tamar.

Noble Energy and its partners in the 22-tcf Leviathan natural gas discovery continue working with various regulators.

They are seeking agreement on a solution that creates the certainty needed for investment decisions, both for the development of Leviathan and planned expansion of Tamar.

05/28/2015

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