Noble Energy Inc. (NYSE: NBL) Delek Group Ltd. (TASE: DLEKG) units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) have announced a new 2 trillion cubic foot (TCF) natural gas discovery at the Karish 1 ("shark" in Hebrew) prospect in the Alon C license, offshore from Nahariya, and close to the Leviathan prospect.
On the basis of a 3D seismic survey Netherland Sewell & Associates Ltd. (NSAI) gives a best estimate of the unrisked gross prospective gas resource, at Karish 1 prospect of 2.02 TCF, with a 50% geologic probability of success. The low estimate is 1.07 TCF (90% geologic probability of success) and the high estimate is 3.38 TCF (10% geologic probability of success). The geological risk for the three reservoirs comprising the prospect is 36%, 45%, and 77%, respectively.
Noble Energy owns 47.1% of the Alon C license, and Avner and Delek Drilling each own 26.47%.
The Karish best estimate is double the size of the Yam Tethys discovery but less than a quarter of 9 TCF Tamar discovery, in both of which Delek and Noble Energy are partners.
Sources inform ''Globes'' that that the discovery means that it was premature to count Israel's natural gas industry.
Published by Globes [online], Israel business news - www.globes-online.com - on November 11, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012