More natural gas confirmed off Israel

July 15, 2013 at 6:54 AM
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TEL AVIV, Israel, July 15 (UPI) -- The latest natural gas discovery off the Israeli coast contains at least 1 trillion cubic feet, companies operating in the area said.

Delek Group Ltd. and its partner, Avner Oil Exploration, announced Sunday a third-party assessment of the Karish reserve area off the coast of Israel found the field contains a "significant" amount of natural gas. Its estimate for natural gas was nearly 10 percent of the giant Tamar natural gas field, which holds at least 10 billion cubic feet of natural gas.

Operator Noble Energy Inc., which has headquarters in Texas, said there were signs of significant deposits of natural gas in the region. The Karish field is in the deep eastern waters of the Mediterranean Sea. Noble in May estimated the reserve potential at 1.6 trillion to 2 trillion cubic feet of natural gas.

Noble is a partner with Avner and Delek.

Delek said it's developing a balanced approach to the nearby Tamar and Leviathan gas fields, which have a combined natural gas resource base of some 33 trillion cubic feet. Delek said the combined fields, mostly in Israeli territory, are the largest natural gas finds made since 2000.

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