While awaiting final test results on the proven gas reserves off Israel's shore, the partners in the Tamar and Dalit drilling sites have begun preparing for the development stage. Sources inform "Globes" that US-based Noble Energy, the senior partner in the exploration venture, recently chose international engineering company INTEC Engineering to plan the development of the gas fields and their connection to the natural gas pipeline.
INTEC will consider the various options for developing the reserves, and recommend the best one.
The contract with INTEC was authorized at a meeting between the partners last week. After putting together the development plan, INTEC is expected to carry out the project's detailed engineering planning.
The contract is worth several tens of millions of dollars.
Ten days ago, Tamar-2 verification tests were stopped, apparently because of a technical problem, which led to a wave of rumors that the quantity of gas was lower than the previously estimated 142 billion cubic meters, but the partners in the exploration emphasized that the rumor was baseless and that the drilling will continue as planned.
With the jump in share prices of the exploration partners, Clal Finance recently said the verification test results will be positive.
The partners in the exploration are Noble Energy (with a 36% share), Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) (28.75%), Avner Oil and Gas LP (TASE: AVNR.L) (15.6255), Delek Drilling Limited Partnership (TASE: DEDR.L) (15.625%), and Dor Alon Energy in Israel (1988) Ltd. (TASE:DRAL) subisidary Dor Gas Exploration Ltd. owns 4%.
Noble Energy CEO Chris Kendall declined to give further details.
Delek Energy CEO Gideon Tadmor and Isramco CEO Yossi Levy refused to comment on the issue.
Published by Globes [online], Israel business news - www.globes-online.com - on June 15, 2009
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