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December 25, 2014 / 3 Tevet, 5775
 
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Posts Tagged ‘Noble Energy’

Israel is Energy Exporter in $15b Gas Deal to Jordan

Wednesday, September 3rd, 2014

Israel became an energy producer for the first time today with the closure of a deal to export natural gas to Jordan from the mammoth Leviathan gas field.

Leviathan will become Jordan’s main supplier of natural gas in the coming years. Months of discussions in the Israeli government eventually ended earlier in the year with a decision that the country would be allowed to export 40 percent of its offshore natural gas reserves.

Noble Energy Inc., Delek Group Ltd, Avner Oil and Gas LP and Delek Drilling Limited Partnership and Ratio Oil Exploration were expected to sign a $15b Memorandum of Understanding today (Sept. 3, 2014) to export natural gas for the next 15 years to Jordan.

Israeli Minister of Natural Infrastructures, Energy and Water Resources Silvan Shalom, and the U.S. State Department were both involved in the deal.

The Leviathan gas field is a large natural gas field located in the eastern Mediterranean Sea off Israel’s coastline, about 47 kilometers (29 miles) southwest of the Tamar gas field. It is located approximately 130 kilometers (81 miles) west of Haifa, in waters about 1,500 meters (4,900 feet) deep.

Tanin and Karish Gas Fields Declared “Proven Discoveries”

Wednesday, August 13th, 2014

Israel’s Energy Petroleum Commissioner declared that offshore Tanin and Karish gas fields are proven discoveries, according to a Globes report.

This declaration was needed in order that Noble Energy and Delek be able to sell their holding in the fields to a third party. Selling the fields helps the two companies avoid being declared a cartel by Israel’s Antitrust Authority.

Noble Energy and Delek are partners int eh Leviathan field.

Tshuva To Export 20% of “Tamar” Gas Field to Egypt

Tuesday, May 6th, 2014

Yitzchak Tshuva plans to sell 20% of the gas drilled from the “Tamar” gas field to Egpyt, according to a report in Calcalist.

Letters of understandings were signed, and official contracts are expected to be signed in six months.

This is the first export agreement with Egypt, and follows the export agreement signed a few months ago with Jordan.

Egypt is to receive 4.5 BCM (billion cubic meters) each year for 15 years. The deal is valued at 1.1 to 1.3 billion dollars a year for a total of around $20 billion dollars.

The “Tamar” gas field holds an estimated 320 BCM and is owned by Noble Energy (36%), Delek and Avner Drilling (31.25%), Isramco (28.7%) and Dor Gas (4%).

Off-Shore Oil Field May Contain 3 Billion Barrels of Oil

Tuesday, December 17th, 2013

Noble Energy now estimates that that its Leviathan oil field discovery in Israeli and Cypriot waters may contain up to 3 billion barrels of oil, double the previous estimate that did not include Block 12 off of Cyprus.

The same field also ready has been determined by Noble and its partner Delek to contain 19 trillion cubic feet of natural gas and another 4 trillion at Block 12. At today’s prices, the value of the potential oil field is nearly $3 billion.

Noble told analysts that drilling will not begin before the end of next year.

Israel began using its own off-shore natural gas for the first time earlier this year and have brought Israel on the way to energy self-sufficiency as well as an exporter of energy.

Natural Gas Magnate Says Gov’t Can Pocket Billions from Exports

Sunday, May 19th, 2013

The government can expect to rake in billions of dollars from natural gas exports in the next 20 years, claimed Yitzchak Tshuva, controlling shareholder of Delek, which is a major partner in the Nobel Energy consortium that has begun pumping gas from its off-shore oil discovery.

Opposing views are trying to prohibit exports, arguing that Israel should make sure it has enough gas for domestic use before exporting.

Tshuva told a business conference on Sunday that it is possible to keep gas reserves for the country while exporting, the Globes business website reported.

“The government should encourage gas exploration deals in Israel, and ensure that more companies, both Israeli and foreign, will enter the industry,” he said. “More companies means more drilling, and Israel will strengthen its position as an important player in the field. It should be remembered that the government’s take from the gas industry, from taxes and royalties has been set at 60%, which means that the Israeli public and the state’s treasury are the main beneficiaries of the industry’s success.”

He also asserted that Israel ill have more “geopolitical power” by virtue of its exporting natural gas.

The Delek-Noble consortium discovered the huge Leviathan energy field in 2010 and it is estimated  to contain 18 trillion cubic feet of natural gas

Yigal Landau, CEO of Ratio Oil Exploration, told Israeli radio on Sunday, “The domestic market is small and limited” and that agreements have been closed with other companies have guaranteed a local supply for years.

More Natural Gas Found

Thursday, May 16th, 2013

On Wednesday evening, the Delek Group announced that they believe they’ve found an additional 57 billion cubic meters (2 trillion cubic feet) of natural gas at the Karish (“Shark”) 1 well. Updated estimates, on Thursday morning, are now saying there is possibly 80-100 billion cubic meters.

The drilling began in mid-March, and was expected to go on for 3 months.

The Karish well is 75 kilometers north west of Haifa. The waters depth is 1,740 meters, and they will be drilling down 4,900 meters.

This well is being drilled by Noble Energy (47.1%), Yitzhak Tshuva’s Delek Drilling (26.4%) and Avner Oil and Gas (26.4%).

The issue of what to do with the gas is a controversial subject in Israel, with some sides saying it should be exported, while other saying it should all be kept for domestic use.

Government profits from the gas are going to be put into a special fund, but JewishPress.com has been calling for Israel to follow the Alaska model introduced by Sarah Palin, where State income and sales tax have been cancelled, and citizens of Alaska personally receive checks from the oil revenue royalties and taxes.

Palin introduced the concept that the natural resources of the state belong to the citizens of Alaska, and they should profit from it directly.

Tshuva: No Shabbat Desecration Occurred

Friday, April 5th, 2013

Yitzchak Tshuva, one of the investors in the Tamar gas field said that no desecration of the Shabbat or Pesach holiday happened with the gas flow, according to a report in Kikar Shabbat.

“Shabbat is the source of our blessing,” Tshuva said. He emphasized that no ceremony was held on Shabbat or the Holiday.

Tshuva said that all the work was being done by Noble Energy, the operating partner in the gas field, and they began the process weeks ago. The gas arrived into Israel on the eve of the last day of Pesach, and that the flow of the gas is an ongoing process which took time until it reached Ashdod.

Yitzchak Tshuva expressed regret that the gas flow’s arrival physically into Israel was being presented as having desecrated the Shabbat or the Pesach Holiday.

Printed from: http://www.jewishpress.com/news/breaking-news/tshuva-no-shabbat-desecration-occurred/2013/04/05/

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