Leviathan gas field set to start amid FLNG plan

Tuesday, 10 December 2019
Free Read

Delek Group, the Israeli company developing the Leviathan gas field offshore Israel with Noble Energy of the US, confirmed the start of first gas deliveries in December and ongoing plans for a floating LNG project.

Delek outlined its proposals as it reported third-quarter revenues of 2.0 billion Israeli shekels ($578 million), down 9 percent compared with $2.2Bln ($651M) posted in the same three months of 2018.

Nine-month revenues were 6.04Bln shekels ($1.75Bln) versus 6.11Bln shekels ($1.76Bln) in the same period of 2018.

“The Leviathan project is fully complete, with domestic gas sales and exports to Egypt and Jordan scheduled to begin in the coming weeks,” said Delek.

The Israeli Leviathan gas field has resources of around 21.4 trillion cubic feet while the Tamar gas field reserves are 11.2 Tcf.

Other Delek-Noble interests in the Eastern Mediterranean include the Aphrodite gas field offshore Cyprus with an estimated 4 Tcf of recoverable resources.

Delek’s share of revenues from oil and gas sales, net of royalties, totaled 1.01Bln shekels ($291M) compared with 1.06Bln ($305M) million in the same period last year.

“In studying options for increasing production output in the Leviathan Reservoir Delek Drilling and the other Leviathan partners signed two separate interim agreements on July 29 with technology and FLNG service providers,” noted the company.

“These agreements concern suitability studies and detailed engineering design works for building an FLNG facility for the Leviathan Project in Israel's exclusive economic zone,” it stated.

Related Video

Free Read