The Israeli partners in the Dalit natural gas prospect offshore from Hadera are due to announce this evening the estimated quantities of gas at the Dalit-1 well after the completion of electric tests by well operator Noble Energy Inc. (NYSE: NBL). The partners are Delek Group Ltd. (TASE: DLEKG) subsidiaries Delek Drilling LP (TASE: DEDR.L) and Avner Oil and Gas LP (TASE: AVNR.L), as well as Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L).
Sources inform ''Globes'' that the Dalit prospect partners are due to meet this afternoon and decide whether to conduct production tests at the well. The tests will cost $10-15 million. Energy sources believe that a decision to conduct production tests is confirmation of natural gas reserves at the site, although it cannot be determined if there are commercial quantities.
Production tests will better estimate the natural gas reserves at the prospect, and measure the rate of gas flow. The test results will determine whether the find is commercial.
Preliminary estimates indicate that the natural gas reserves at Dalit are not larger than Noble Energy's initial estimate of up to 20 billion cubic meters.
Published by Globes [online], Israel business news - www.globes-online.com - on March 30, 2009
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