Noble Energy Inc. (NYSE: NBL) continues to display seriousness about developing the Leviathan gas reservoir. A professional team from the company, headed by Keith Elliott, senior vice president Eastern Mediterranean, has flown in from the US to present to Minister of National Infrastructure, Energy and Water and Yuval Steinitz and the government team for implementing the gas agreement an initial development plan for Leviathan.
The people from Noble reiterated their commitment to the gas agreement and to developing Leviathan in accordance with the timetable it sets out. They also surveyed development in their talks with gas consumers in neighboring countries, and expressed confidence that it would be possible to meet the timetable and perhaps even to shorten it.
Further discussions between representatives of the Israeli government and of Noble Energy will take place over the next few weeks.
In the past two days, the Leviathan partnerships Noble Energy, Ratio Oil Exploration (1992) LP (TASE:RATI.L), Delek Drilling and Avner Oil and Gas LP (TASE: AVNR.L) have radiated optimism about development of the reservoir despite the fall in oil and gas prices and the dramatic cut in investment that Noble Energy has had to make. Yesterday, the partnerships announced an initial gas supply contract with Israeli private power producer Edeltech.
Also yesterday, Noble Energy Israel Country Manager Bini Zomer released a statement saying that it would be possible to have gas flowing from Leviathan by the end of 2019.
Published by Globes [online], Israel business news - www.globes-online.com - on February 1, 2016
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