The Leviathan partners have approved an outline plan for drilling and the start of work in developing the giant Israeli offshore gas field. The partners announced today that work will commence in the first quarter of 2017 and a budget of $77 million has been allocated for the drilling. The first stage of the Leviathan drilling will begin immediately after completion of the drilling for the Tamar 8 gas field. The Leviathan partners are Noble Energy Inc. (NYSE: NBL) (39.66%) Delek Group Ltd. (TASE: DLEKG) units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) (22.67% each) and Ratio Oil Exploration (1992) LP (TASE:RATI.L) (15%). RELATED ARTICLES Leviathan partners sign $2b gas deal Ratio unit to raise NIS 100m in TASE IPO Delek units raise bank finance for Leviathan Paz signs $700m Leviathan gas deal In recent weeks Avner, Delek Drilling and Ratio have reported raising the banking finance and required equity to develop the field and that regulatory permission has been received to commence development work. Noble energy announced that the drilling work will be undertaken by the Attwood Advantage floating drilling rig, which is currently implementing the production drilling for the Tamar 8 offshore field. The Attwood Advantage has a crew of 100 and the latest satellite technology for conducting the most precise operations. Noble Energy Israel Country Manager Bini Zomer said, "Drilling an additional well at Leviathan is another step in the progress of the project and is evidence of Noble Energy's commitment to meet our target of first gas before the end of 2019." Published by Globes [online], Israel business news - www.globes-online.com - on December 18, 2016 © Copyright of Globes Publisher Itonut (1983) Ltd. 2016
