Israeli exploration group to return Daniel natgas field licences - REUTERS

AUGUST 20, 2017 / 1:46 PM
Reporting by Steven Scheer; editing by Mark Heinrich

JERUSALEM, Aug 20 (Reuters) - An Israeli exploration group said on Sunday it would return its licences to develop a natural gas field off Israel's Mediterranean coast to the government, citing a number of factors including a lack of investors.

Returning the licence to all rights to develop the Daniel gas fields could be a significant blow to Israel, which is seeking to become energy-independent and an exporter while developing competition in its existing gas sector.

A group led by Isramco Negev and Modiin Energy last year said a resource report showed there could be an estimated total of 8.9 trillion cubic feet (tcf) of natural gas at the Daniel East and West fields.

It said on Sunday its decision to give up its rights was based, among other things, "on assessments regarding the level of geological risk in the licences, the difficulties expected in commercialising the gas, if and when it is discovered, and the lack of interest by new investors."

Israeli round set for mid-November - NATURAL GAS WORLD

October 13th, 2016, 1:45pm, Ya'acov Zalel

Under the slogan "Open Israeli Waters for Exploration", Israel's energy ministry will launch an exploration licensing round on November 15 -- the first ever competitive offshore round in Israel's history. But it won't go through without difficulties.

According to the timetable published on a website dedicated to the licensing round, another roadshow will take place in Houston, Texas on November 30 -- the third, following ones in London and Singapore last month -- then an online Q&A process will conclude on January 31 2017, and then the closing date for bids is set for March 28 2017. Documents and data packages will be available for purchase starting mid-November 2016.

Weekly Overview on Eastern Mediterranean Natural Gas Matters | Natural Gas Europe

January 22nd, 2016

Israel

Israeli waters may hold more natural gas than previously expected. On January 17, an Israeli gas exploration group led by Isramco Negev and Modiin Energy announced it had encountered indications of a possible natural gas field off the country’s coast. The Daniel East and Daniel West licenses may contain up to 8.9 trillion ft³, according to a report by the companies.

Israel’s largest discoveries to date are the Tamar field, estimated at 10 trillion ft³, and the Leviathan, estimated at 22 trillion ft³. The country has not yet been able to develop the giant Leviathan delayed by domestic regulatory disputes.

New gas estimates leave Israelis hoping | Interfax

Written by Rachel Williamson
21 January 2016

New resource estimates for two offshore gas licences have created a stir in Israel, but their development will partly depend on progress on the giant Leviathan field.

United States-based Isramco Negev and Israel-listed Modiin Energy last week released a report – based on seismic data taken before 2001 – indicating there could be up to 251.9 billion cubic metres of gas in the Daniel East and Daniel West offshore licences.

By comparison, the already producing Tamar field contains reserves of 311.3 bcm.

Survey Offshore Israel Finds Difficult Reserves | Natural Gas Europe

January 18th, 2016

Israeli explorers Isramco Negev and Modiin Energy reported January 17 that a survey by Netherland, Sewell pointed to a potential discovery of 8.9 trillion ft³ of gas in the Daniel Maarav, Daniel Misrah and other geological structures offshore Israel. The data included in the new survey is based on a 3-D seismic survey that was concluded last year and it said the probability of finding gas is 25%-50%, depending on the location. The potential deposit quantity is almost as big as the Tamar field but more challenging, technically and so it will be more expensive to produce.

Both licenses are in deep water, 85-115 km offshore Israel and at a depth of 1,000-1,350 meters.

Partners are Isramco Negev (65%), Modiin Energy (15%), Israel National Oil Company - Hanal (10%), US ATP – which is now in liquidation (5%) – and AGR Petroleum Services Holdings, a Norwegian services company (5%). Isramco also holds a 29% stake in Tamar.

Isramco CEO: We are still far from declaring discovery | Globes

An ATP Oil & Gas acreage map that shows 
the Daniel East & Daniel West Fields

17/01/2016, Hedy Cohen

Eran Saar tried to cool enthusiam for the Daniel license saying, "This is not a discovery; it is only a report of potential resources."

Commenting on the dramatic announcement by Isramco Negev 2 LP (TASE: ISRA.L) and Modi'in of the resources report for the Daniel license indicating a potential natural gas reserve of 8.9 TCF in two blocs in the drilling license, Isramco CEO Eran Saar sought to cool excess enthusiasm and put matters in their proper proportion. "The findings are encouraging, and bring new hope to the oil and gas exploration sector in Israel, but we should not go overboard," Saar said. "In my humble opinion, there is no drama here for the gas industry in Israel. This is not a discovery; it is only a report of potential resources, and there is no assurance at this stage that anything will come of it. I also emphasize that it involves 10 different blocs in the area of two Daniel licenses, each of which requires separate exploration drilling with different risks and chances. The road to a discovery, if any occurs, is still a long one."

Modiin Energy Shares Soar on Announcement of New Offshore Gas Find | Haaretz

Eran Azran and Reuters Jan 17, 2016 12:40 PM

The potential find, about 100 kilometers off the Mediterranean coast, is in a license area knows as Daniel East and West, where Isramco Negev and Modiin Energy are the two primary investors.

An Israeli exploration group reported on Sunday that it has discovered another large natural gas field off Israel's Mediterranean coast. The group, led by Isramco Negev and Modiin Energy, said that a resource report showed there could be an estimated total of 8.9 trillion cubic feet of natural gas at the Daniel East and West fields.

UPDATE 1-Israeli group finds signs of large east Mediterranean gas field | Reuters

Sun Jan 17, 2016 - UPDATE

By Ari Rabinovitch

Jan 17 An Israeli exploration group has discovered signs of another large natural gas field off Israel's coast, it said on Sunday.

A number of the world's biggest gas deposits have been found offshore Israel, Egypt and Cyprus in recent years, and oil and gas companies have been spending money to find more.

A group lead by Isramco Negev and Modiin Energy said a resource report showed there could be an estimated total of 8.9 trillion cubic feet (tcf) of natural gas at the Daniel East and West fields.