Noble Bullish On Leviathan Plans

US independent Noble is confident it can begin production from Israel’s 19tcf Leviathan field by end-2017, whether or not Australia’s Woodside comes on board.

Houston-based Noble operates almost all of Israel’s gas production – some 1.2bn cfd, all offshore. It is also the key holder of undeveloped discoveries, both offshore Israel and in neighboring Cypriot waters.

Although the bulk of the company’s current production is in the US, the company opened the conference call to discuss its Q1 results with its plans for its key Israeli fields. Prime among these is the aptly-named 19tcf Leviathan field, the East Mediterranean’s biggest discovery to date.

Here, Noble is increasingly confident it will be able to bring the field online by late 2017, more than doubling the firm’s gross offshore Israel capacity to 3bn cfd in the process. Even before Leviathan comes onstream Noble will raise output from its key current producer – the 1bn cfd capacity Tamar field – in both 2015 and 2016, Chairman Charles Davidson says. (CONTINUED - 1518 WORDS)