Noble Energy: Leviathan production in December

Leviathan gas reservoir / Photo: Albatros

The Leviathan operator says gas will flow from the giant Israeli offshore field next month and that Tamar production reached a milestone 2TCF in the third quarter.

Noble Energy Inc. (NYSE: NBL) said that production from Israel's giant offshore gas field Leviathan will begin next month. In its third quarter 2019 financial results, the Leviathan operator said, "Delivery of the Leviathan project is ahead of schedule and below budget. During the quarter, the production decks were successfully installed on the jacket, setting the offshore world record for the largest crane vessel lift in history (15,300 metric tons). Full hookup of the platform and living quarters, as well as platform commissioning, continues to progress towards first production in December."

Noble Energy added that, " Acquisition of interest in the EMG pipeline closed in early November 2019." This will allow the Leviathan partners to sell gas to Egypt's Dolphinus Holdings.

During the quarter, Noble Energy and its partners amended sales agreements for the delivery of natural gas from the Leviathan and Tamar fields to Dolphinus Holdings Limited in Egypt. The amended agreements now provide for total combined firm contract quantities of 3 TCF (trillion cubic feet) of natural gas, an increase of 1.85 TCF from the prior agreements.

Regarding the Tamar Israel offshore gas field, Noble Energy reported, "Third quarter 2019 sales volumes from the company’s Israel assets totaled 234 million cubic feet of natural gas equivalent per day. During the quarter, the Tamar field reached a milestone of 2 trillion cubic feet (TCF) of natural gas produced with runtime of over 99% since startup.

Published by Globes, Israel business news - en.globes.co.il - on November 8, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Leviathan gas reservoir / Photo: Albatros
Leviathan gas reservoir / Photo: Albatros
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018