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Leviathan partners investing $120 Million to develop field

Leviathan partners also reported they are in talks to sign export deals for the gas, which should flow by the end of 2019.

tamar gas

The Leviathan partners Delek Group,  (units Avner Oil and Gas and Delek Drilling)  Ratio Oil Exploration, notified the Tel Aviv stock Exchange this morning that together with the US license operator Noble Energy they will be making an initial $120 million investment in developing the field.

The partners also reported that they are in talks with several entities on gas export deals,  both in Israel and abroad on gas supply agreements.

The $120 million will be spent on FEED services (detailed engineering specifications) and procurement of equipment and services for developing the field.

Israeli High Court of Justice is not approved yet the new gas outline agreement with the “softened” stability clause. The partners estimated that gas will begin flowing from Leviathan by the end of 2019.

 

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