GPS News  
OIL AND GAS
Delek defends Leviathan gas reserve potential
by Daniel J. Graeber
Tel Aviv, Israel (UPI) Jun 8, 2016


disclaimer: image is for illustration purposes only

Partners aiming to develop the Leviathan gas field off the coast of Israel said they can exploit the full potential amid questions about reserve estimates.

Delek Group and its partners steering development plans for the Leviathan gas field, considered one of the largest in the world, said they're working on a plan to develop a maximum 741.6 billion cubic feet of natural gas per year.

That followed a government report that said, after a review from independent analysts, the field could support production of about 20 percent less than Delek and its partners had estimated.

In a statement, Delek said the government could update its reserve estimate for the field after reviewing data from drilling operations underway in parts of the Leviathan field.

"It should be emphasized that in the opinion of the partners, the estimated production amount is adequate for full implementation of the development plan in the amount of 741.6 billion cubic feet per year as approved, and adequate for full implementation of the export agreements applicable to a development plan of this scope," the company said.

In a separate statement specific to media accounts of the government's expectations about Leviathan, the company stressed that "no change has occurred" in the reserve estimate for the field.

The Israeli government gave its consent last month to revised operational plans after a previous arrangement was struck down early this year by the Israeli Supreme Court. The partners were notified in March by the court that a deal with the government was unconstitutional, a ruling consistent with past concerns about competition.

The government of Prime Minister Benjamin Netanyahu said the earlier decision from the court would have resulted in "severe damage" to the nation's economic potential. The government said last month's consent decision was historic.

Barring any unforeseen complications, field development is expected to get underway before the end of the decade.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Shell says it's ready for change
The Hague, Netherlands (UPI) Jun 7, 2016
Royal Dutch Shell is positioning itself as a stronger company as it moves through the market downturn and changing energy landscape, the CEO said Tuesday. "I see important opportunities for Shell from the substantial and lasting changes underway in the energy sector," CEO Ben van Beurden said in a statement. Shell said it was leaving oil and gas operations in as many as 10 countr ... read more


OIL AND GAS
EU proposes temporary approval of weedkiller glyphosate

Ecologists advise an increase in prescribed grassland burning to maintain ecosystem

Honeybees pick up pesticides from non-crop plants, too

In high-rise Hong Kong, fine wines lurk in British war bunker

OIL AND GAS
Scientists build gene circuits capable of complex computation

'Weak' materials offer strong possibilities for electronics

Tiny lasers enable Microprocessors to run faster, less power-hungry

Scientists create 'magnetic charge ice'

OIL AND GAS
L-3 gets $1.9 billion KC-10 Extender contract

Lockheed Martin flies T-50A

Sikorsky commercial helo takes autonomous flight

USAF production decision on KC-46 delayed

OIL AND GAS
IEA finds electric vehicle use high in Asia and Europe

New molecular design to get hydrogen-powered cars motoring

GM wants to keep steering wheels, pedals in self-drive cars

EU ignoring diesel pollution despite VW scandal: NGO

OIL AND GAS
Lew raps China on excess steel production

Myanmar gem firms say $100m 'missing' from industry fund

Thai military men convicted for attack on mine activists

Chinese investors to build industrial city in Oman

OIL AND GAS
Beetles, the axe: double trouble for prized Polish forest

Survey describes values, challenges of largest shareholder in US forests: Families

Shock as Honduras national park cleared to halt bugs

Green legacy of WWI carnage: the riches of Verdun forest

OIL AND GAS
Ironing out the mystery of Earth's magnetic field

New NASA instrument brings coasts and coral into focus

Bayer and Planetary Resources intend to collaborate to improve agriculture with space data

Planetary Resources raises $21M for Earth Observation platform

OIL AND GAS
Technique reveals atomic movements useful for next-generation devices

Dentin nanostructures - a super-natural phenomenon

Nanotubes' 'stuffing' as is

Nanocars taken for a rough ride









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.