According to reports in Bloomberg, claims were made in the Lebanese parliament today that part of the huge gas find announced yesterday in the Tamar-1 field off Haifa is really in Lebanese territorial waters.
The Tamar-1 well, located in 5,500 feet of water 90 kilometers west of Haifa, was drilled to a total depth of 16,076 (4,900 meters) feet to test a subsalt, lower-Miocene structure in the Levantine basin. Preliminary indications show 88 billion cubic meters of natural gas at the Tamar prospect worth an estimated $15 billion. Israeli government revenue alone from the find could amount to NIS 11 billion.
The Tamar prospect in the Matan license is owned by Delek Group Ltd. (TASE: DLEKG) units Delek Drilling Limited Partnership (TASE: DEDR.L) and Avner Oil and Gas LP (TASE: AVNR.L) with a 15.625% stake each, along with Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) (28.85%), and Noble Energy Inc. (NYSE: NBL) (36%), and Alon Israel Oil Company Ltd. subsidiary Dor Gas Exploration Ltd. (4%).
Reports of the Lebanese parliamentary debate in the Arab press offered no specific evidence as to why the gas find should belong to Lebanon. However, Lebanese sources are expected to contact US based Noble Energy and warn the company not to infringe Lebanese rights during their work with "the Israeli enemy."
Published by Globes [online], Israel business news - www.globes-online.com - on January 20, 2009
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