Noble Energy to be honored for Israel gas discoveries
May 12, 2010 by admin
Source: Jewish Herald Voice
Houston-based Noble Energy will be honored at a tribute dinner Sunday evening, May 23, at the Westin Galleria Hotel for its discovery of significant natural gas resources off the coast of Haifa – discoveries that will have “profoundly positive” benefits for the State of Israel. Leon Mucasey, general chairman, Houston Committee State of Israel Bonds, made the announcement with Fred Zeidman, Texas chairman, State of Israel Bonds. On this occasion, the energy company’s chairman and CEO Charles D. “Chuck” Davidson will accept the State of Israel Bonds Declaration of Independence Award on behalf of Noble Energy.
“The natural gas discoveries Noble Energy and its Israeli partners have made have profoundly changed the State of Israel’s security situation for the better,” Mucasey stated. “These natural gas discoveries are believed to be big enough to supply Israel’s energy needs for at least two decades or more, so that Israel will no longer have to be dependent on imported oil. The Declaration of Independence Award is a truly appropriate award to bestow upon Noble Energy, as it has put Israel on the road to energy independence,” Mucasey concluded.
The culmination of years of significant study of a previously, highly underexplored region, and of investment, the Tamar discovery was drilled by Noble Energy and its Israeli partners Isramco Negev 2, Delek Drilling, Avner Oil Exploration and Dor Gas.
It was drilled in the Matan License, offshore Israel, in approximately 5,500 feet of water and was drilled to a total depth of 16,076 feet to test a lower Miocene subsalt structure in the Levantine Basin. It was characterized by Davidson as “one of the most significant prospects we have ever tested,” and as “the largest discovery in the company’s history.”
Further testing and appraisal of the discovery has identified natural gas resources of 6.3 trillion cubic feet, enough to supply Israel’s energy needs for at least two decades or more. Noble Energy and its partners are moving forward with plans to bring first production from Tamar to Israel by 2012.
A publicly traded company listed on the New York Stock Exchange, Noble Energy is a leading independent energy company, which has been engaged in the exploration and production of oil and gas since 1932. The company operates primarily in the Rocky Mountains, Mid-Continent and deepwater Gulf of Mexico areas in the United States, with key international locations in Equatorial Guinea and Israel.
The State of Israel Bonds tribute to Noble Energy will begin with a reception at 6 p.m., followed by dinner and the formal program at 7 p.m. Dietary laws will be observed. Dress is business attire.
An RSVP is required. For information, call State of Israel Bonds Texas Headquarters at 713-729-3100 or 800-676-3101.