New Natural Gas Field Found Offshore Israel

Noble Energy and Delek Group have found a new Mediterranean natural gas field about 120 km northwest of the Haifa coast.

Initial reports suggest that the field may contain between 34 billion to 37 billion cubic meters of gas. The site is adjacent to Tamar and Leviathan fields.

Israel discovered two much larger gas fields in 2009 and 2010, with estimated reserves of 25 trillion cubic meters of gas. Production is to begin in about a year.