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Signs of New Natural Gas Field Found Off Israel Coast
Rig Zone ^ | April 27, 2014 | Reuters

Posted on 04/28/2014 6:11:29 AM PDT by thackney

An oil and gas group exploring offshore Israel said on Sunday it may have discovered a field that contains an estimated 2.5 trillion cubic feet (tcf) of gas and 255 million barrels of oil.

About 30 tcf of gas have been discovered off Israel's Mediterranean coast in recent years, turning the country once dependent on energy imports into a potential exporter.

The latest announcement, which was based on 3D seismic data from 2012, covers the Oz license some 50 km (30 miles) from the coastal city of Herzliya in water 1,150 meters (yards) deep.

(Excerpt) Read more at rigzone.com ...


TOPICS: Egypt; Israel; News/Current Events; Russia; Syria
KEYWORDS: 255millionbbl; cyprus; egypt; energy; gaza; hamas; iran; israel; lebanon; methane; naturalgas; opec; petroleum; russia; sinai; syria; turkey
excerpt for Reuters content
1 posted on 04/28/2014 6:11:29 AM PDT by thackney
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http://www.eia.gov/countries/country-data.cfm?fips=IS

As of January 2014, the Oil & Gas Journal estimated Israel’s proved reserves of oil at 11.5 million barrels and its proved reserves of natural gas at 10.1 trillion cubic feet (Tcf). While neither figure places Israel in the top-40 globally, these totals are significantly higher than they were a few years ago.

Energy exploration over the past several years uncovered significant natural gas resources in Israel, primarily in the country’s offshore areas. The Mari-B field—discovered in 2000—provided the first significant volumes of domestically-produced natural gas to Israel’s markets, but in 2012 production plummeted as the field entered the final stages of depletion. In prior years, the Mari-B field met up to 40% of Israel’s natural gas demand.

Israel began commercial production of natural gas from the Tamar field (located offshore, near Haifa) in March 2013. The natural gas produced from the Tamar field travels through existing onshore facilities at Ashdod via a pipeline that links to existing infrastructure at the Mari-B development site. Plans are moving forward on a floating LNG project that will draw natural gas supply from the Tamar field (with estimated discoveries of 10 Tcf) and the nearby Dalit field and will produce approximately 3 million tons of LNG per year (144 billion cubic feet per year) as soon as 2017. The most recent offshore discovery occurred at the Tamar Southwest exploration well, located 8 miles southwest of the Tamar Field, and the Tamar Southwest field may contain more than 500 billion cubic feet of natural gas in place.

The most significant find in offshore Israel is the Leviathan field, located approximately 80 miles off the coast and situated in water that is more than 5,000 feet deep. Assessments of the Leviathan field indicate that there could be as much as 19 Tcf of recoverable natural gas in place. Production could begin at Leviathan in 2016 at the earliest.

While historically Israel has been an importer of natural gas—most recently through the Arish-Ashkelon pipeline from Egypt and a very small portion through a newly installed floating and regasification terminal— the discoveries of the Tamar and Leviathan fields (among several others) should allow the country to become a significant exporter of natural gas in the next decade. There are competing proposals to develop pipelines and LNG infrastructure to support natural gas exports, but deliberations about how Israel will get its natural gas to market are ongoing.

In January 2014, the Israeli government approved plans to supply the Palestinian Authority with natural gas from Leviathan once production commences. In early 2014, Noble Energy signed a natural gas sales agreement with two Jordanian companies to supply them with natural gas from the Tamar field. The initial term of the agreement with Jordan is 15 years, for a total gross quantity of 66 billion cubic feet, with exports beginning in 2016.

In 2012, Israel consumed 15.4 million short tons of coal, mostly for use in electricity generation. That figure is likely to decline as Israel’s natural gas sector continues its rapid growth and natural gas-fired generating capacity supplants coal-fired generating capacity.


2 posted on 04/28/2014 6:14:16 AM PDT by thackney (life is fragile, handle with prayer)
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To: thackney

Joel Rosenberg, pick up the white courtesy phone.


3 posted on 04/28/2014 6:17:39 AM PDT by Wyatt's Torch
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To: thackney

cant be true...peak oil, peak gas, peak food, peak anything that makes the world a good place to live....

and cue finding some sea creature that only resides there in 5,4,3....


4 posted on 04/28/2014 6:18:11 AM PDT by Irishguy
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To: thackney

Bravo for Israel !


5 posted on 04/28/2014 7:04:45 AM PDT by tomkat (3% +1)
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To: thackney

I’m sure Hamas will be screaming for their cut of the profits.


6 posted on 04/28/2014 7:08:11 AM PDT by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; We need a second party!)
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To: tomkat

The Pallies will blow up any transmission pipelines or drilling platforms the Israelis try to set up. Can’t have anything good happening over there.


7 posted on 04/28/2014 7:08:28 AM PDT by redangus
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To: thackney

Kosher gas bump.


8 posted on 04/28/2014 7:09:27 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: thackney

Thanks for reporting on these developments. When the first reports of these fields began I personally viewed them with some skepticism. Particularly when some came with urging to making/seeking investments. Happy to see I was wrong.


9 posted on 04/28/2014 7:18:15 AM PDT by mosesdapoet (Serious contribution pause.Please continue onto meaningless venting no one reads.)
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To: thackney; SunkenCiv; NormsRevenge; Fred Nerks; Marine_Uncle; BenLurkin

Excellent News.


10 posted on 04/28/2014 7:23:59 AM PDT by Ernest_at_the_Beach
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To: mosesdapoet

I have seen several reports that overstated the proved reserves.


11 posted on 04/28/2014 7:25:18 AM PDT by thackney (life is fragile, handle with prayer)
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To: redangus

Israel began commercial production of natural gas from the Tamar field (located offshore, near Haifa) in March 2013. The natural gas produced from the Tamar field travels through existing onshore facilities at Ashdod via a pipeline that links to existing infrastructure at the Mari-B development site.


12 posted on 04/28/2014 7:26:07 AM PDT by thackney (life is fragile, handle with prayer)
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To: Wyatt's Torch

“Joel, please don’t write anything about me!”


13 posted on 04/28/2014 7:26:33 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: thackney

Once again, G_d provides for His people.


14 posted on 04/28/2014 7:27:47 AM PDT by hoagy62 ("Tyranny, like hell, is not easily conquered..."-Thomas Paine. 1776)
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To: thackney

Isn’t there something in prophecy about specifically this..


15 posted on 04/28/2014 7:30:35 AM PDT by ConservativeMan55 (In America, we don't do pin pricks. But sometimes we elect them.)
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To: ConservativeMan55

Not that I am aware of.


16 posted on 04/28/2014 7:31:12 AM PDT by thackney (life is fragile, handle with prayer)
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To: thackney

When they first discovered this.. I remember reading a lot of places talking about it.

http://www.nowtheendbegins.com/blog/?p=9255


17 posted on 04/28/2014 7:32:53 AM PDT by ConservativeMan55 (In America, we don't do pin pricks. But sometimes we elect them.)
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To: MrB

Dang straight brother!


18 posted on 04/28/2014 7:33:05 AM PDT by Wyatt's Torch
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To: ConservativeMan55

That would be one of the many overstated claims of reserves.


19 posted on 04/28/2014 7:33:33 AM PDT by thackney (life is fragile, handle with prayer)
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To: ConservativeMan55

Just in the “Joel Rosenberg” prophecies.


20 posted on 04/28/2014 7:39:26 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: thackney
Wouldn't it be ironic if Israel ends up being a significant supplier of natural gas to Europe, partially displacing Putin's KGB-led USSR Russia? Yes, the same Europe that never misses an opportunity to condemn Israel for every ill in the world.

All that I can say is that G-d has a really great sense of humor.

21 posted on 04/28/2014 8:18:26 AM PDT by Ancesthntr ("The right to buy weapons is the right to be free." A. E. van Vogt)
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To: Irishguy

“and cue finding some sea creature that only resides there in 5,4,3....”

They have probably already found one—the Tamar Grunt, the only one in the whole world. It lives forever but can’t propagate because there is no other one.

It also can’t be seen because it’s invisible.


22 posted on 04/28/2014 8:40:35 AM PDT by kitkat (STORM HEAVEN WITH PRAYERS FOR OUR COUNTRY)
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To: Ancesthntr
Wouldn't it be ironic if Israel ends up being a significant supplier of natural gas to Europe, partially displacing Putin's KGB-led USSR Russia? Yes, the same Europe that never misses an opportunity to condemn Israel for every ill in the world All that I can say is that G-d has a really great sense of humor.

Are you reading my post or my mind? :-)

Seriously, is this number 3 or 4 of the major gas / oil fields they have found? How much more than 100 yrs of fuel do they have now?

And that is not on top of their Shale oil and gas ( see the link )

http://www.timesofisrael.com/should-israel-get-oil-out-of-vinegar-for-an-energy-revolution/

But you bring up a point...

The whole Syrian revolt / Putin land grab has been pontificated about in the sense that it was about Arab oil / gas for Europe vs Russian.

So imagine if we had a CIC that fought to sell our fuel to Europe and Israel did the same and they could choose US instead of those other two loons...

Oh, my what different world that would be...

23 posted on 04/28/2014 8:48:19 AM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks....)
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To: taildragger
As of January 2014, the Oil & Gas Journal estimated Israel’s proved reserves of oil at 11.5 million barrels and its proved reserves of natural gas at 10.1 trillion cubic feet (Tcf).

Do you understand these amounts in relation to Europe's consumption rate?

24 posted on 04/28/2014 8:53:32 AM PDT by thackney (life is fragile, handle with prayer)
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To: thackney

Thack, please do tell, am I off my game I take it it is a drop in the bucket?


25 posted on 04/28/2014 8:56:22 AM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks....)
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To: taildragger

In 2013, Europe imported 3.78 billion barrels of of oil or about 330 times greater amount than Israel’s total proved oil reserve.

http://ec.europa.eu/energy/observatory/oil/import_export_en.htm

In 2012, Europe imported 11.0 TCF of Natural Gas. An amount slightly more than all of Israel’s proved Natural Gas Reserves.

http://www.fas.org/sgp/crs/row/R42405.pdf


26 posted on 04/28/2014 9:04:12 AM PDT by thackney (life is fragile, handle with prayer)
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To: Ernest_at_the_Beach; thackney
RE: "Excellent News."
I'll puts some dittos on that one.
27 posted on 04/28/2014 12:29:19 PM PDT by Marine_Uncle (Galt level is not far away......)
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