Leviathan's Gas Reserve Revised Upwards

Leviathan partners Noble Energy, Delek Group Ltd. and Ratio Oil Exploration have revised upwards the gas reserves of the field to about 21 trillion cubic feet from previous estimates of 16 TCM.  

The revisions are due to the new reporting rules on reporting oil and gas discoveries instituted by the Israel Securities Authority in early 2011, media reports said.

Noble Energy owns 39.66% of Leviathan, Delek units Avner Oil and Gas and Delek Drilling LP each own 22.67% and Ratio owns 15%.

Drilling at the Leviathan 1 site is about to begin after the arrival of the Homer Ferrington rig, which is to deepen the well to the lower strata.