Israeli Energy Ministry Tries to Downplay Leviathan Gas Field Size

7 Jun 2016   Israel

Israel Offshore Rig The Israeli Energy Ministry has said that the supergiant Leviathan offshore gas field may be 20 percent smaller than its developers, US-based Noble Energy and Israeli partner Delek have previously estimated. The Israeli Energy Ministry has qualified its statement downplaying the field’s potential by saying that new drilling data could cause a change of opinion. Last week, the Energy Ministry approved the development plan for Leviathan, but noted its own estimates of reserves at 17.6 trillion cubic feet of gas. Noble and Delek have previously estimated 21.9 trillion cubic feet. Related: Saudi Arabia Raises Oil Prices to Asia But Cut Prices to Europe Noble and Delek remain firm in their original estimate, noting in a statement carried by Reuters that “the partnership clarifies that there has been no change in the resource estimate”. According to the Jerusalem Post, this is a “numbers game” now. Noble and […]

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