New estimate puts Israel’s Leviathan gas resources far lower at 16.6 Tcf: sources

26 Apr 2016   Israel

An updated assessment of the Leviathan offshore gas field puts the Israeli offshore field’s estimated resources at 16.6 trillion cubic feet (about 453 billion cubic meters), 24% lower than a previous assessment, according to energy industry sources. The latest estimate, by Netherlands-based SGS, was prepared at the request of Israel’s Energy and Water Resources Ministry. The previous estimate, prepared for Noble Energy Inc and its Israeli partners Delek Group and Ratio Oil Exploration in July 2014 by Netherland, Sewell & Associates, put Leviathan’s resources at 21.9 Tcf. The ministry would only confirm that it had received an estimate and that it was conducting another assessment by a second international consulting company. The ministry said in a statement that once all of the tests are concluded it would publish the figures and determine its policy regarding development of the offshore field. The energy industry sources said that the lower estimate, […]

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