The partners in the Tamrur Cliff (Tzuk Tamrur) 4 drilling, Zerah, Avner, and Delek Drilling, have reported to the Tel Aviv Stock Exchange that they have successfully completed examination of the electric logs and that they are gearing up for production tests at the site in the Dead Sea area.
On Thursday, "Globes" reported that the results of the electric log examination were positive, just a few days after the partners announced that they had found oil at the site at a depth of 2,103 meters below ground.
The announcement warns that "the decision to carry out production tests is based on initial positive indications from the drilling and the logs, and it is not yet possible to determine the oil production capacity of the strata, or the size or economic viability of the oil deposit in the drilling."
Preparations for production tests generally take between a few weeks and a few months. The tests themselves will last about a month and will cost some $1.8 million.
Initial estimates before drilling began in October were of 6.6 million barrels of oil at the site. A source familiar with the matter told "Globes" today that that estimate had not changed after the examination of the logs.
Published by Globes [online], Israel business news - www.globes-online.com - on January 31, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010