Noble to deliver 750 MCF of Leviathan gas daily

Noble Energy told its 2012 analysts conference that domestic deliveries from Leviathan will begin 2016, and exports in 2018.

Noble Energy Inc. (NYSE: NBL) plans delivering up to 750 million cubic feet of gas per day from the Leviathan field in the first phase of development in its 2012, the company told its analysts conference The first gas will be delivered, the company added, via a northern entry point in 2016.

Noble continued that the project plans additional capacity for exports via pipeline, onshore LNG, or floating LNG as early as 2018. The Mesozoic oil prospect below the Leviathan gas discovery is planned to be spud late next year, the company said.

Noble Energy said, "The 17 TCF Leviathan development will increase the deliverability and reliability of domestic supply to Israeli customers. Development plans have been significantly advanced with the announced agreement in principle with Woodside Energy as a strategic partner in the project. Noble Energy will continue as upstream operator and will retain 30% working interest."

One analyst told "Globes" "This is a very positive forecast and earlier than expected."

On the Tamar prospect Noble Energy said, "The Tamar project is on schedule for first production in April 2013. Sales for the remainder of 2013 following first production are expected to average approximately 700 million cubic feet daily with a peak capacity of nearly 1 billion cubic feet per day."

"The jacket and topsides installations will be completed by the end of the year and the world's longest subsea tieback will begin commissioning shortly thereafter. The realized price will be a blended price that will rise as Tamar volumes continue to grow. Future expansion phases will increase deliverability using compression at the onshore terminal along with a combination of system optimization and storage at Mari-B, allowing sales to grow to an average of approximately I billion cubic feet daily."

Published by Globes [online], Israel business news - - on December 6, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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