Israel has achieved a major milestone on Saturday when natural gas production commenced from the Tamar field off Israel’s Mediterranean shore, Reuters reports.
The country is expected to become a gas exporter by the end of the decade.
Partners in the fields stated that they had invested $3 billion in developing the field, estimating the new gas supplies would save Israel’s economy. Tamar has already secured numerous supply contracts.
Noble Energy Chairman and CEO, Charles Davidson, announces the company and the partners would now work to invest in increasing piping capacity at Tamar.
Tamar, located 90 kilometres offshore Israel’s northern coast, has an estimated 10 trillion cubic feet of gas.
The partners in the Tamar field are: Noble Energy (36 percent), Isramco Negev (28.75 percent), Avner Oil Exploration (15.625 percent), Delek Drilling (15.625 percent) and Dor Gas Exploration (4 percent).
Offshore Energy Today Staff, April 1, 2013