A consortium led by US firm Noble Energy has approved a $265 million project to sink a new well in a major natural gas field off Israel, officials say Sunday.
Delek Drilling and Avner Oil Exploration, Israeli firms that are part of the partnership led by Noble, announce the financing for the Tamar field in the Mediterranean.
“The Tamar partners decided to approve a budget of about $265 million for drilling ‘Tamar 8’ and connecting to existing infrastructure in the Tamar field,” Delek and Avner say in a joint statement.
It says the latest well would allow “maximum supply from Tamar field during times of peak demand, in light of the volume of production from Tamar and the existing and expected demand for natural gas from the field.”
Tamar 8, the field’s sixth production well, is located about 100 kilometers (60 miles) offshore and would reach a depth of around 3.5 kilometers below the sea bed, it said.
Drilling is projected to start in the last quarter of this year.
— AFP
An aerial view of the Tamar gas-processing rig 24 kilometers off the southern coastal city of Ashkelon, June 23, 2014. (Moshe Shai/Flash90)
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