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2016-06-20 18:05:00

LEVIATHAN'S DEVELOPMENT

LEVIATHAN'S DEVELOPMENT

 

ISRAEL GAS MAP 

 

According to NATURAL GAS EUROPE , the controlling stakeholders offshore Israel – Noble Energy and Delek Group – are moving forward in their expansion and development plans for Tamar and Leviathan gas fields by trying to coordinate and schedule a sequence of drilling operations between the two projects. 

A source told NGE that a tender was issued for a drilling rig, which is supposed to arrive at Israel later this year. The rig will drill a new well at Tamar field, Tamar 5, the source said. The new well is part of the expansion plan for the already producing field.

Speaking at the Herzeliya Conference June 16, Delek Group CEO Yossi Abu said that by the end of the year a drilling rig would arrive in Israeli waters. However he did not refer to the Tamar field. Drilling production wells in Leviathan will follow final investment decision at the end of this year, so not before the second half of next year, at the earliest.

After completing its work plan in Tamar the rig will then move on to drill a few production wells in Leviathan field, by which time the final investment decision to develop the field should have been taken, contingent on firm gas sales agreements. Leviathan partners are US Noble Energy (the operator with 39.7%), Delek Group (45.3%) and Ratio (15%).

According to a development plan approved this month by the energy ministry, Leviathan's three anchor customers for its phase 1 development are expected to be the domestic Israeli market, the Jordanian power company Nepco and the Egyptian consortium Dolphinus Holdings, which was supposed to purchase gas from Tamar last year in a deal that has not materialized.

Further on, the drilling rig is expected to drill for natural gas at the Aphrodite gas field offshore Cyprus which is controlled by US Noble Energy (35%) the Anglo-Dutch major Shell (35%) and Delek Group (30%).

Deadlock in Turkish negotiations

Meanwhile on the Turkey-Israel diplomatic front no progress has been made, despite promises to the contrary. It now seems that the chances of Israel exporting gas to Turkey are even lower than before.

In a background briefing this week to various Israeli media outlets, a high-level security official, understood to be defence minister Avigdor Lieberman, said that sooner or later Israel will confront Hamas in Gaza, which will end in the defeat of Hamas and the end of its rule in Gaza Strip.

Hamas is supported by Turkey, which has proposed building a port in Gaza as part of the settlement with Israel. However, the senior security official said that there is no reason to give the Gazans a port. "It is absolute nonsense," the security official was quoted as saying by Haaretz daily.

The crisis between Israel and Turkey stems from the Mavi Marara incident in 2010. In that incident, Israeli commandos killed nine Turkish citizens on a boat headed to Gaza, trying to break the naval blockade Israel imposed on Gaza. Lieberman, the new defence minister, has always opposed rapprochement with Turkey and a new confrontation on the Gazan front would serve his interests well.

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Earlier:  

ЛЕВИАФАН ГАЗПРОМУ НЕ ПАРА 

LEVIATHAN APPROVED 

RUSSIA & ISRAEL GAS TALKS 

ISRAELI GAS DECISION 

ISRAEL & RUSSIA COLLABORATION

 

 

Tags: LEVIATHAN, GAS, ISRAEL

Chronicle:

LEVIATHAN'S DEVELOPMENT
2018, August, 17, 11:30:00

U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.

LEVIATHAN'S DEVELOPMENT
2018, August, 17, 11:25:00

NORWAY'S PETROLEUM PRODUCTION: 1.911 MBD

NPD - Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June.

LEVIATHAN'S DEVELOPMENT
2018, August, 17, 11:20:00

GAZPROM NEFT NET PROFIT UP TO 49.6%

GAZPROM NEFT - For the first six months of 2018 Gazprom Neft achieved revenue** growth of 24.4% year-on-year, at one trillion, 137.7 billion rubles (RUB1,137,700,000,000). The Company achieved a 49.8% year-on-year increase in adjusted EBITDA, to RUB368.2 billion. This performance reflected positive market conditions for oil and oil products, production growth at the Company’s new projects, and effective management initiatives. Net profit attributable to Gazprom Neft PJSC shareholders grew 49.6% year on year, to RUB166.4 billion. Growth in the Company’s operating cash flow, as well as the completion of key infrastructure investments at new upstream projects, delivered positive free cash flow of RUB47.5 billion for 1H 2018.

LEVIATHAN'S DEVELOPMENT
2018, August, 15, 11:10:00

OIL PRICE: NEAR $72

REUTERS - Front-month Brent crude oil futures LCOc1 were at $72.34 per barrel at 0648 GMT, down by 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.3 percent, at $66.81 per barrel.

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