Globes, Dec 29, 2010
As gas estimates for Leviathan reach 16 TCF based on initial production testing, it appears that this new reservoir holds twice the amount discovered in the Tamar field. Analysis results have arrived exactly one month after Leviathan partners announced positive indication for natural gas in the target layer, 5000 meters deep. According to the partnership, this is the largest deep-water gas discovery in the world for the past decade.
Ratio Oil Exploration CEO Yigal Landau said that the initial analysis of the drilling “is a cause for celebrations in Israel. The analysis by Noble Energy proves beyond doubt that, as we had anticipated, there is a huge gas reservoir in the field discovered by Ratio. The risk has paid through, finally, after many disappointments and huge investments. Alongside the risk there is also a return, which we are happy to say has been realized.” With reference to the surveys at the Gal license area, Landau said, “we are persuaded that if this license yields energy resources, investors will be able to enjoy the fruit of their investment along with the state, on the basis of suitable terms acceptable to all parties.”
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