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Noble Energy sees remarkable progress offshore Israel

Noble Energy boss Davidson says progress at Leviathan gas field offshore Israel has been "remarkable."

By
Daniel J. Graeber
Mediterranean developments bright spot for Noble Energy. UPI/Debbie Hill
Mediterranean developments bright spot for Noble Energy. UPI/Debbie Hill | License Photo

HOUSTON, April 24 (UPI) -- Developments made at the Leviathan natural gas field off the coast of Israel have been "remarkable," Noble Energy Chairman Charles Davidson said Thursday.

Noble this year signed export contracts for gas from the Leviathan and nearby Tamar natural gas fields with Jordanian and Palestinian authorities.

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Davidson said in a quarterly statement Thursday larger contracts are expected to follow during the next several fiscal quarters.

"The progress we have made recently regarding the Leviathan project offshore Israel has been remarkable, and we are close to executing a number of domestic and regional export sales agreements to support the field's development," he said in a statement.

Tamar, with an estimated 8.5 trillion cubic feet of gas reserves, entered into production in March 2013. Leviathan, with an estimated 18 trillion cubic feet of gas, should go onstream in 2016.

Australian energy company Woodside Petroleum last month balked on a deal to take on a 25 percent stake in Leviathan after complaining of Israeli tax policies.

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