![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() by Daniel J. Graeber Tel Aviv, Israel (UPI) Jun 8, 2016
Partners aiming to develop the Leviathan gas field off the coast of Israel said they can exploit the full potential amid questions about reserve estimates. Delek Group and its partners steering development plans for the Leviathan gas field, considered one of the largest in the world, said they're working on a plan to develop a maximum 741.6 billion cubic feet of natural gas per year. That followed a government report that said, after a review from independent analysts, the field could support production of about 20 percent less than Delek and its partners had estimated. In a statement, Delek said the government could update its reserve estimate for the field after reviewing data from drilling operations underway in parts of the Leviathan field. "It should be emphasized that in the opinion of the partners, the estimated production amount is adequate for full implementation of the development plan in the amount of 741.6 billion cubic feet per year as approved, and adequate for full implementation of the export agreements applicable to a development plan of this scope," the company said. In a separate statement specific to media accounts of the government's expectations about Leviathan, the company stressed that "no change has occurred" in the reserve estimate for the field. The Israeli government gave its consent last month to revised operational plans after a previous arrangement was struck down early this year by the Israeli Supreme Court. The partners were notified in March by the court that a deal with the government was unconstitutional, a ruling consistent with past concerns about competition. The government of Prime Minister Benjamin Netanyahu said the earlier decision from the court would have resulted in "severe damage" to the nation's economic potential. The government said last month's consent decision was historic. Barring any unforeseen complications, field development is expected to get underway before the end of the decade.
Related Links All About Oil and Gas News at OilGasDaily.com
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |