More natural gas confirmed offshore Israel

Energy Trade

A natural gas discovery off the coast of Israel may hold as much as 2 trillion cubic feet of reserves, operator Noble Energy Inc announced. Texas-based Noble said on Wednesday it has made a natural gas discovery at the Karish prospect. Drilling reached a total depth of 15,783 feet (4,811 meter) and uncovered a natural gas pay measuring 184 feet (56 meter), which Noble said indicated a reserve potential of 1.6-2 tcf of natural gas. Karish lies in 5,708 feet of water in the Alon C license, about 20 miles (33 km) northeast of the Tamar field, off the coast of Israel. Noble Energy operates the block with a 47.06% stake, while Delek and Avner Oil hold the remaining equity.

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