February 20, 2009

Israel’s natural gas discovery much larger than original estimate



In a February 10, 2009 press release, Noble Energy announced that the huge natural gas discovery just off the coast of Haifa, Israel is much larger than the original projections.

Noble Energy made this statement in its press release,

“The pre-drill gross mean resource potential for Tamar was originally estimated at 3.1 trillion cubic feet (Tcf) of natural gas. Immediately following discovery, we estimated the gross resource potential to be at least equal to the pre-drill mean estimate. After analysis of all the post-drill and production test data, the estimated gross mean resource potential of Tamar has now been increased to 5 Tcf.”

Houston based Noble Energy owns 36% of the Tamar-1 well.

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