Israel Discovers Huge Natural Gas Field

January 18, 2009 by  

“They shall call the people unto the mountain; there they shall offer sacrifices of righteousness: for they shall suck of the abundance of the seas, and of treasures hid in the sand.”

(Deuteronomy 33:19)

 Hunter Rig Currently Drilling at Tamar #1 SiteNoble Energy (see my earlier post: http://www.oilinisrael.net/oil-in-israel-articles/more-detail-about-the-haifa-offshore-gas-exploration) has discovered “three massive gas fields” just off the coast of Haifa. This field is much richer, the natural gas reservoirs much larger than Noble energy expected. This find alone could be enough natural gas to power Israel’s electrical plants and supply it’s commercial and domestic natrual gas needs for the foreseeable future – and still with enough for export to other countries. Yitzhak Tshuva, owner of the Delek Group Ltd, a partner in the Tamar #1 well, called the discovery “one of the biggest in the world,” promising that the find would present a historic land mark in the economic independence of Israel.

The Jerusalem Post and many other news organizations announced the discovery to the people of Israel and to the world this morning. Below are excerpts of the JP article you can read it in its entirety at http://www.jpost.com/servlet/Satellite?pagename=JPost/JPArticle/ShowFull&cid=1232265973374.

Jerusalem Post Sunday January 18, 2009

Three massive  gas reservoirs have been discovered 80 kilometers off the Haifa coast, at the Tamar prospect, Noble Energy Inc. announced on Sunday.

The Tamar -1 well, located in approximately 5,500 feet of water, was drilled to a total depth of 16,076 feet. The thickness and quality of the reservoirs found were greater than anticipated at the location.

Charles D. Davidson, Noble Energy’s chairman, president and CEO, said in an announcement that his company was “extremely excited by the results. This is one of the most significant prospects that we have ever tested and appears to be the largest discovery in the company’s history.”

Speaking on Army Radio Sunday morning, an exhilarated Yitzhak Tshuva, owner of the Delek Group Ltd, one of the owners of the well, called the discovery “one of the biggest in the world,” promising that the find would present a historic land mark in the economic independence of Israel.

“I have no doubt that this is a holiday for the State of Israel. We will no longer be dependent [on foreign sources] for our gas, and will even export. We are dealing with inconceivably huge quantities; Israel now has a solution for the future generations,” Tshuva added.

An ecstatic Infrastructures Minister Binyamin Ben-Eliezer said before the weekly cabinet meeting that the discovery was a “historic” one and could “change the face of Israeli industry.”

Production testing at Tamar will be performed after the well is completed. Noble Energy and its partners may keep the rig to drill up to two additional wells in the basin. Pending positive test results, one well could be an appraisal at Tamar.

Noble Energy operates the well with a 36 percent working interest. Other interest owners in the well are Israeli companies Isramco Negev 2, Delek Drilling, Avner Oil Exploration and Dor Gas Exploration.

Following the announcement of the discover, shares of Delek Drilling jumped up 80%, while shares of Isramco Negev 2 skyrocketed by an unprecedented 120 percent.

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Comments

7 Responses to “Israel Discovers Huge Natural Gas Field”

  1. Israel finds oil!! « Daviddanielson’s Blog on January 18th, 2009 8:06 am

    [...] Israel finds oil!! Multiple media organizations are currently breaking the news that oil exploration companies have found massive natural gas reserves off the coast of Haifa. This may prove to be a pivotal find for Israeli energy independence and Israel’s future position in the global economy. See more information here. [...]

  2. Sharon on January 19th, 2009 12:24 pm

    Praise God. Thanks be to God through Jesus the Messiah.

  3. Jason on January 20th, 2009 8:32 pm

    Amen Sharon! Praise be to God through Yeshua!

  4. Rainman19 on February 3rd, 2009 7:12 am

    This natural gas find caught my eye. Since most of the stocks involved have already moved , I feel I’ve missed out on most of the easy gains. Anyway, I decided to take a chance and pick up some ZN. jmho

  5. Vinay on February 6th, 2009 6:56 am

    Praise God… The end times is near… We will continue to see marvelous things happening in Israel these days… It’s time Isreal realizes that Jesus Christ is the Messiah that they are looking for… Being a Hindu I have acknowledged that Christ is the Messiah.

  6. John & Margaret Marshman on June 23rd, 2009 7:15 am

    …… it is marvellous in our eyes…….. all thanks, praise & glory belong to the only true G_d of the Jews and Christians. His name be praised for ever!

  7. Geoffrey McKee on August 7th, 2009 3:33 am

    Agree, this is excellent news.

    Several years ago BG International claimed an historic deal in the Eastern Mediterranean area with the signature of a deal with the Palestine National Authority to explore for gas offshore Gaza. This first license was awarded by the PNA covered acquisition of seismic data and exploration drilling, offshore development, and delivery of gas to Palestine.

    However, it seems there was controversy about the awarding of the contract, since the PNA was seen by BG as the recognized administrative authority for the Gaza area, but Tel Aviv maintained that it had a claim on the territory. The Israeli government was understood to be preparing a challenge to the contract award in the international courts.

    Does anyone know whether this claim went ahead in the ICJ?

    Does Israel recognise the jurisdiction of the ICJ? Or are the offshore maritime areas of the coast consigned to lawlessness?

    The Gaza Marine natural gas discovery is purported to contain 1.4 trillion standard cubic feet of natural gas.

    Is it true that fishermen from Gaza are prevented from taking their boats out any further than 6 km offshore? If this is true, then seems to indeed suggest that the Gaza Marine gas field is claimed buy Israel to be under its sovereignty.

    There is not much on this issue in the oil & gas journals or mainstream media.

    Any comments would be welcome to this confused researcher.

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