Multi-billion worth of natural gas deposits found in Israel
Thursday
Dec 30, 2010
$95 billion worth of natural gas deposits has been discovered off the Haifa coast in Israel via joint US-Israeli drilling project.
U.S. Company Noble Energy Inc. confirmed that the largest reserve of natural gas has recently been discovered just off Israel’s coast. The reserve, known as Leviathan, is over 16 trillion cubic feet.
The ownership is divided as such: 39.66% for Noble Energy, 22.67% each for Israeli partners Delek Drilling LP and Avner Oil, both under Delek Group Ltd., and 15% for Ratio Oil Exploration (1992) LP.
It is believed that this recent discovery makes Israel on top of the natural gas exporting nations. The drilling project is up for identifying the best development and exploration for Leviathan.
[via Israel Matzav]
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