Leviathan 3 tcf Boost

The partners in Israel’s Leviathan natural gas field this week hiked their mid reserves estimate by 16%, paving the way for further export deals with neighboring Egypt, Jordan, Turkey and Cyprus.

The estimate has risen to 21.9 tcf (620 bcm) from 18.9 tcf (535 bcm) based on re-processing and re-analysis of 3D surveys and laboratory testing while the new low-high range is 16.6-26.5 tcf.

“The dramatic increase in Leviathan’s gas reserves gives a wide range of export options and positions Israel as a leading player in the international energy map with gas reserves of 1,000 bcm,” Delek Drilling CEO Yossia Abu says.

Israel’s Zemach Committee last year decided that, based on then estimates of total Israeli reserves, 540 bcm would be reserved for the domestic market, with the remainder available for export. This equated to 40% of Israel’s then estimated reserves, a figure applied to the then reserves estimate of each field. (CONTINUED - 383 WORDS)