NEW FIND: Nobel Oil reports another oil find for Israel

Israel’s Off-Shore Leviathan Oil Field May Contain 3 Billion Barrels of Oil.

A Noble analysts reported that drilling will not begin before the end of 2014.

By: Jewish Press News Briefs

 

Noble Energy now estimates that that its Leviathan oil field discovery in Israeli and Cypriot waters may contain up to 3 billion barrels of oil, double the previous estimate that did not include Block 12 off of Cyprus.

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The same field also ready has been determined by Noble and its partner Delek to contain 19 trillion cubic feet of natural gas and another 4 trillion at Block 12. At today’s prices, the value of the potential oil field is nearly $3 billion.

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Noble told analysts that drilling will not begin before the end of next year.

Israel began using its own off-shore natural gas for the first time earlier this year and have brought Israel on the way to energy self-sufficiency as well as an exporter of energy.

 

View original Jewish Press News Briefs publication at: http://www.jewishpress.com/news/breaking-news/off-shore-oil-field-may-contain-3-billion-barrels-of-oil/2013/12/17/

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