Noble Energy Inc. (NYSE: NBL) has notified its partners, including Delek Group Ltd. (TASE: DLEKG) and Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L), that the gross mean resources in the Tamar natural gas field offshore from Haifa are 16% larger than the previous estimate, and amount to 207 billion cubic meters. The previous estimate was 178 billion cubic meters
Netherland, Sewell and Associates Inc. made the estimate. Tamar's proved and probable reserves are now estimated at 218 billion cubic meters, of which 170 billion cubic meters is proven. The proved and probable reserves are the basis for the partnership's development plans.
Noble Energy unit Noble Energy Mediterranean Inc. owns 36% of the Tamar prospect. Delek owns 31.25% through Delek Energy Systems Ltd. (TASE: DEOL) subsidiaries Delek Drilling LP (TASE: DEDR.L) and Avner Oil and Gas LP (TASE: AVNR.L). Isramco owns 28.75% and Alon Israel Oil Company Ltd. unit Dor Gas Exploration LP owns 4%.
Delek Group's share rose 1.7% in early trading to NIS 641.50, Delek Energy rose 3.2% to NIS 617, Delek Drilling rose 2.3% to NIS 6.62, Avner Oil rose 3.2% to NIS 1.01, and Isramco rose 4% to NIS 0.37.
Published by Globes [online], Israel business news - www.globes-online.com - on August 11, 2009
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