Gulf Oil and Gas accountACCOUNT

Israeli Firm Sees Further Major Offshore Gas Deposits

Source: Ahram Online 6/4/2012, Location: Middle East

An Israeli company has said there is a high probability of further major natural gas deposits off the northern Israeli coast. A statement released by the Israel Opportunity energy exploration partnership said that prospecting at the Pelagic group of deep-sea fields, west of Haifa, showed a potential 189 billion cubic metres of gas and 1.4 billion barrels of oil there.

"The quantity of gas discovered in the licences, and at high probabilities, are the third-largest discovered so far off Israel's shores," Chairman Ronny Helman said.

"This quantity ensures Israel's energy future for many decades," he said.

The existing Leviathan and Tamar fields, 130 kilometres off Haifa, are believed to hold some 450 billion cubic metres and 238 billion metres of gas respectively.

Israel is pushing to get its new gas fields on line swiftly to make up the shortfall in supply caused by the collapse of imports from neighbouring Egypt.

"These are initial estimates after exploratory drilling at the start of this year, but the probability that these estimates are realised is highly important, Israeli energy specialist Amit Mor, CEO of consulting firm Eco Energy, told AFP.

Israel generates 40 per cent of its electricity from natural gas and wants to raise that figure, reducing the use of more costly and polluting diesel and coal.

Until last year, Egypt provided 43 per cent of Israel's gas but the flow was regularly disrupted after the overthrow of former Egyptian president Hosni Mubarak in February 2011.

In April this year, Egypt annulled the supply contract altogether.

Exploration News in Israel >>

Argentina >>  8/21/2019 - Equinor’s executive vice president for Exploration, Tim Dodson, and YPF's CEO Daniel Gonzalez have signed an agreement to jointly explore the CAN 100 ...
United Kingdom >>  8/20/2019 - UK Oil & Gas PLC (UKOG) is pleased to announce that the Oil and Gas Authority (OGA) has granted two-year extensions to the initial terms of the Compan...

United Kingdom >>  8/19/2019 - Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has made an oil discovery at explor...
Oman >>  8/7/2019 - Oman’s Ministry of Oil and Gas (MOG) signed a new exploration and production sharing agreement with Daleel Petroleum Co for Block 5. ...

Guyana >>  8/2/2019 - Frontera Energy Corporation ("Frontera") announces that a resequencing of CGX Energy Inc.'s work programme in the Corentyne block, offshore Guyana, he...
Oman >>  7/31/2019 - BP and Eni have signed an exploration and production sharing agreement (EPSA) for Block 77 in central Oman with the Ministry of Oil and Gas of the Sul...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Israel Oil & Gas 1 >>  2 | 3 | 4 |

More News

Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.