Delek Drilling, operator of Israel’s Leviathan natural gas field in the Mediterranean Sea, brought in $1.95 billion in total sales from the field in 2021. This according to a report from Netherland Sewell and Associates, Inc. (NSAI). Delek Drilling’s share of this was $883 million
10.7 Bank Cubic Meters (BCM a term used for measuring mined gases and rock like coal) of natural gas were sold by Delek Drilling for the year. The reports also forests increases in sales from Leviathan in the coming years.
It sounds like Delek Drilling kept the right field. Last year it sold its stake in the Tamar offshore gas field to Mubadala Petroleum of Abu Dhabi, UAE for $1.025 billion.
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And Delek Drilling also stands to gain from the recent decision by the government of Israel to increase the sale of natural gas to Egypt, by way of Jordan. The gas will be transmitted through Israel from the coast to the Jordanian transmission station near Beit She’an, on the border between the two countries. Jordan will then transfer the gas to Egypt by way of is transmission station in the port of Aqaba. It will be done this way because Israel’s direct lines to Egypt are already at their capacity.
In response to Israel’s Ministry of Energy’s report regarding a new line for the export of natural gas to Egypt via Jordan, Delek Drilling Leviathan partners stated that it is currently working for the signing of a set of agreements whose purpose is to allow the piping of natural gas according to the agreement for the export of natural gas to Egypt with Blue Ocean Energy, via Jordan, using the Israeli transmission system to Jordan.
The closing of the set of agreements and commencement of the piping of the gas via Jordan to Egypt, which Delek Drilling expects to begin in the coming days, will allow maximization of the production from the Leviathan reservoir and the transfer of the natural gas surpluses, which are not consumed in Israel and in Jordan and/or piped to Egypt via the EMG pipeline, to the Egyptian market, via the Jordanian transmission system, mainly until completion of the Ashdod-Ashkelon offshore transmission system section by INGL, which is expected to occur in March 2023.