Israel’s Offshore Leviathan Field Could Hold 16% More Gas Than Earlier Estimated

Israel’s offshore Leviathan field could hold 16% more natural gas previously estimated, partners in the field announced Sunday, reports Jerusalem Post newspaper.

According to assessment by Netherland, Sewell and Associates, Inc. (NSAI), an international oil and gas consulting firm, rather than containing 535 billion cubic meters of gas, the reservoir probably contains about 621 bcm of contingent resources. High estimates were 751 bcm while low estimates were 469 bcm.

The estimate for natural gas liquid condensate in the reservoir has also been lifted from 39.4 million barrels from 34.1 million barrels, Jerusalem Post adds.

Partners in the Leviathan Project and their percentage holdings are as follows:

Noble Energy Mediterranean Ltd. 39.66% 
Avner Oil Exploration - Limited Partnership 22.67% 
Delek Drilling - Limited Partnership 22.67% 
Ratio Oil Exploration (1992) - Limited Partnership 15.00%

"The dramatic increase in gas reserves in Leviathan grants us a great maneuvering area for various export options, and strengthens Israel's stance as a leading player in the international energy map, with gas reserves of about 1,000 bcm," said Yossi Abu, CEO of Delek Drilling.