US Noble Energy Chiefs Flee Israel Fearing Hamas Rockets

“The management in Houston thought it was not appropriate to disturb the system with existing topics while rockets fall across Israel.”

Tamar,    The Natural Gas Production Platform Off The Israeli Coast,    Is To Begin It's Natural Gas Production

New violence between Israel and the Hamas has taken a toll on Israel’s economy, as executives from Noble Energy Inc. cancelled meetings they had scheduled with Israeli officials due to the threat of missile attacks.

According to a report in Israel’s Hebrew daily Yediot Ahronot, representatives from Noble, which produces natural gas from Israel’s reserves in the Mediterranean Sea, have returned to the US. The group, which included Noble’s president, chief operating officer, director and soon to be CEO, David Stover, had come into the country to discuss plans for the production of natural Gas from Israel’s Leviathan field.

Regarding the businessmen’s departure, Bini Zomer, director of corporate affairs and joint ventures at Noble Energy, said, “The management in Houston thought it was not appropriate to disturb the system with existing topics while rockets fall across Israel, it would be better to return at a better time.”

The Houston-based independent oil and gas producer is the operator of Israel’s offshore Tamar and Leviathan gas fields. These two fields constitute some of the largest deep-water gas discoveries since 2000. Noble has set 2017 as the target for activating production in these fields.

Just last week, the company announced the signing of a non-binding letter of intent between the Leviathan field partners and British gas company BG International Limited, to supply gas from Leviathan to BG’s existing natural gas liquefaction facilities in Egypt.

Noble Energy, Inc. is an independent energy company with a diverse portfolio of assets and an S&P 500 company with reserves of 1.4 billion barrels of oil equivalent and assets totaling over $19 billion at year-end 2013.

David Stover has 35 years of oil and gas industry experience. He has served as executive vice president and COO since August 2006. Before joining Noble Energy, he was BP’s vice president and business unit leader for the Gulf of Mexico Shelf, from September 2000 to August 2002.

He serves on the Board and Executive Committee of Junior Achievement in Houston and is President of Spindletop International for 2014 and 2015. He holds a bachelor’s degree in petroleum and natural gas engineering from Pennsylvania State University and is a member of the Society of Petroleum Engineers.

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