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."

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.

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.