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.

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.