Regional conflict prompts Chevron to halt Leviathan pipelay - OFFSHORE

Oct. 8, 2024

The Leviathan reservoir was discovered in December 2010 by NewMed Energy (with a working interest of 45.3%), Chevron (which was called 'Noble Energy' at the time, with a working interest of 39.7%) and Ratio (with a working interest of 15%).

The Leviathan reservoir was discovered in December 2010 by NewMed Energy (with a working interest of 45.3%), Chevron (which was called "Noble Energy" at the time, with a working interest of 39.7%) and Ratio (with a working interest of 15%).

Chevron Mediterranean suspended installation activities related to the third subsea gas export pipeline from the deepwater Leviathan field offshore Israel to the near-shore platform on Oct. 6.

Chevron eyes subsea pipelines to send Israeli gas to Egypt - WORLD OIL / BLOOMBERG

JAN/20/2021

Yaacov Benmeleh

(Bloomberg) --Chevron and other companies helping to develop Israel’s natural gas fields will invest around $235 million in pipelines to export the fuel to Egypt.

The partners in the Leviathan and Tamar fields, which sit off Israel’s Mediterranean coast, signed an agreement under which Israel Natural Gas Lines Ltd. will lay a new subsea pipeline and expand some of its existing ones, according to a statement Tuesday from Delek Drilling LP, a shareholder in both reservoirs.

INGL will build a pipeline between the Israeli coastal cities of Ashdod and Ashkelon, close to the border of the Gaza Strip. Along with the expansion of other lines, it will enable the partners to send as much as 7 billion cubic meters of gas annually to Egypt, Delek said.

The new route will cost 738 million shekels ($228 million) and the expansion work about 27 million shekels, Delek said. The gas firms will pay for 56% of the new pipeline and provide guarantees on the funding that INGL takes on to cover the rest.