EMC 2021 . 2021 SEPT 14-16 . NICOSIA
1 Mar, 2017 13:50
Amiram Barkat
Noble Energy's final investment decision (FID) disproves theories that the company has no intention of developing the field.
"The interest of the Leviathan owners is not to develop the reservoir, because they want to get as much money as possible out of Tamar. There won't be anything, because there is nothing. It's nothing but PR. The state should nationalize Leviathan and bring it back to state management, and put an end to this farce, in which Noble Energy and (Delek Group Ltd. (TASE: DLEKG) controlling shareholder) Yitzhak Tshuva do whatever they want with our gas" (television commentator Alon Nisser, January 19, 2017).
Feb 27, 2017 6:38 AM
Eran Azran
Plans to develop Phase 1 of the Leviathan gas field were approved last week. TheMarker answers who, what, where, when, why and how much
The largest infrastructure project in Israel’s history is about to get under way, after the partners in the Leviathan offshore natural gas field announced on Thursday the approval of a final investment decision of $3.75 billion in phase one of the project. Gas should be available to the Israeli market by the end of 2019, according to the plan.
It was a long road to the decision, which comes nearly seven years after gas was first discovered at the giant Mediterranean Sea field. During the intervening period, global energy prices collapsed, potential customers came and went and Israel underwent the long and painful process of sorting out its regulatory regime.
Phase one of the plan agreed upon by Noble Energy, Delek Drilling, Avner Oil Exploration and Ratio Oil Exploration involves drilling four subsea wells.
FEB/23/2017Yaacov Benmeleh
TEL AVIV (Bloomberg) -- The companies that own the rights to Leviathan, Israel’s largest natural gas reservoir, approved a plan to allocate $3.75 billion to develop the offshore site. Israel’s main gas equity index rose the most in almost five months.
The partners, led by Delek Group Ltd. and Houston-based Noble Energy, have agreed on a final investment decision, which lays out how the companies intend to spend the funds to develop Leviathan over the next three years, according to a Tel Aviv Stock Exchange filing Thursday.
The decision allows the partners to “launch the largest energy project in the history of Israel, that will also serve as one of the region’s energy anchors,” Yossi Abu, chief executive officer of Delek Drilling, said in an e-mailed statement. Delek Drilling holds a 22.7% stake in Leviathan and is a unit of Delek Group. “We will continue our activity to develop and expand our oil and gas assets in Israel and Cyprus,” Abu said.
Thu Feb 23, 2017 | 2:44am ESTReporting by Tova Cohen
The partners in the Leviathan natural gas field said on Thursday they approved a $3.75 billion final investment decision (FID) in the first phase of the giant reservoir, the largest energy project in Israel's history.
The reservoir, located 100 kilometers (62 miles) west of Haifa, was discovered in December 2010 and is one of the largest offshore natural gas discoveries in the world in the previous decade.
The project's $3.75 billion budget is in addition to $1 billion that has already been invested to date in various exploration, appraisal and planning activities.
According to the development plan that was approved last year by the government, the project will be completed within less than three years and the gas from Leviathan will be available to the Israeli market by the end of 2019.
