Israel Finds Natural Gas Treasure

By | February 12, 2009

Besides the ceasefire, Israel is into the news for another great reason. Reservoirs of natural gas were found in Israel by the subsidiaries of Derek group. The thickness and quality of this treasure of natural gas, which they found under deep water, is of greater value than the prior anticipation by the Operator at this drilling location.

The drill was conducted under water of around 1,680 meters depth and gradually reached to 4,900 meters. The potential of producing natural gas from this well on daily basis has yet to be confirmed by conducting target tests. These tests will be conducted fro around three weeks and is estimated to cost around US $20 million.

This amount is nothing compared to the profit that the gas well is going to provide.

The partners of these drill rights are

  • Noble Energy Mediterranean with 36.00%
  • Isramco Negev 2 having Limited Partnership of 28.75%
  • Delek Drilling with Limited Partnership of 15.625%
  • Avner Oil Exploration is also with Limited Partnership of 15.625%
  • Dor Gas Exploration with 4.00% of Limited Partnership

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