Sharon Wrobel
US energy giant Chevron and its partners in the Tamar reservoir off the country’s Mediterranean coast on Sunday announced a decision to invest $24 million to bolster natural gas production capacity from the offshore field.
The investment is part of a two-phase plan aimed at expanding natural gas production capacity to about 1.6 billion cubic feet (BCF) a day from the Tamar field, located west of Ashkelon, to meet Israel’s energy needs and to export gas to Egypt.
The Tamar partners okayed a so-called final investment decision (FID) needed to proceed with the second phase of the gas production expansion project.
“Reaching FID for Phase Two of Tamar’s expansion reflects Chevron’s ongoing commitment to partnering with the State of Israel to continue development of its energy resources for the benefit of domestic and regional natural gas markets,” said Jeff Ewing, managing director of Chevron’s Eastern Mediterranean Business Unit.
US energy giant Chevron and its partners in the Tamar reservoir off the country’s Mediterranean coast on Sunday announced a decision to invest $24 million to bolster natural gas production capacity from the offshore field.
The investment is part of a two-phase plan aimed at expanding natural gas production capacity to about 1.6 billion cubic feet (BCF) a day from the Tamar field, located west of Ashkelon, to meet Israel’s energy needs and to export gas to Egypt.
The Tamar partners okayed a so-called final investment decision (FID) needed to proceed with the second phase of the gas production expansion project.
“Reaching FID for Phase Two of Tamar’s expansion reflects Chevron’s ongoing commitment to partnering with the State of Israel to continue development of its energy resources for the benefit of domestic and regional natural gas markets,” said Jeff Ewing, managing director of Chevron’s Eastern Mediterranean Business Unit.
