Tamar Partners To Spend $265 million Drilling New Well

tamar gas
The partners in the Tamar natural gas reservoir will invest $265 milion in drilling Tamar 8 and constructing infrastruture.

The partners Delek Drilling, Avner Oil and Gas LP and Isramco Ltd. own the rights in the Tamar gas reservoir. The parnership notified the Tel Aviv Stock Exchange this morning that they carry out an additional development and production drilling in the reservoir, Tamar 8, and to set up supporting infrastructure, at a total investment of $265 million.

In a notice to the stock exchange,  The partners said “In the light of the amount of production from the Tamar reservoir, and in the light of existing and expected demand for natural gas from it, the drilling operator, Noble Energy, recommended carrying out the drilling, with the aim of boosting the reserves in the production system, to make maximum supply possible from the reservoir at times of peak demand.”

Drilling is expected to begin in the fourth quarter of this year and to last four months, including connection to the production system. The drilling will take place about 100 kilometers west of Haifa, in water 1, 670 meters deep, and to a planned final depth of 5, 050 meters below sea level.

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