Page 70: of Offshore Engineer Magazine (Jan/Feb 2015)

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throughout 2015-2019. Noble

Energy alone is predicted to pump an 84% share of forecast capex off

Israel during the same period.  “There should be a queue of operators focused on Israel,”

Middle East

Beagelman says. “Especially when you look to Cyprus, who [has] not produced anything as of yet, and you have three major operators exploring in their waters.” 

Like many developing regions, the Israeli offshore sector has had

Leviathan its share of naysayers and even doomsayers, particularly when it comes to bringing Leviathan online. The general political looms unrest in the region might contrib- ute to some general unease among investors; that certainly seemed the case when the Financial

The Tamar feld, which was turned around from discovery into production in only

The pace – and scale – did not slow.

Sarah Parker Musarra examines four years. Beagelman points to this as

In 2010, less than 30mi from Mari-B, proof positive that Israel has the proper

Israel’s Leviathan feld’s

Noble Energy found the Leviathan infrastructure in place to support its potential and separates fact growing ofshore sector. feld, dwarfng Tamar with an esti-

Photo from Albatross Aerial Photography Ltd.

mated 22 Tcf gross mean natural gas from misconception.

resources – the largest discovery in recognizes now the huge discoveries

Noble’s history. hen the frst gas discoveries All four fnds are in the Levant basin, and production levels, however, there is were made offshore Israel which is estimated by the US Geological not enough knowledge about the further Times and others reported on tumbling

W in 1999-2000, Israel was Survey’s (USGS) 2010 report to have exploration opportunities in Israel’s economic activity within the country, thrown into the international energy about 1.7 billion bo undiscovered recov- offshore deepwater. The geology spells as the confict with Hamas in the Gaza spotlight. erable and about 122 Tcf of undiscovered it out,” says Joshua Beagelman, COO Strip continued. gas. Noble expects Leviathan’s Phase 1 to Initial offshore oil and gas discoveries Security concerns are high on the of Universal Oil and Gas (UOG), the be ready for production by 2018. were Noa in 1999 and Mari-B, in 2000. agenda, but can be a misconception, organization which brought Israel its

In December 2013, Noble Energy Operator Noble Energy announced frst Beagelman says. Professor Brenda frst international oil and gas conference announced that it encountered approxi- gas from Mari-B, the larger of the two Shaffer, an expert in international energy, in 2014. “There will be more natural gas mately 355ft of net natural gas pay in the felds, on Christmas Eve 2003. But, more based at Georgetown University, says discoveries in Israel and oil discover- ies–it just depends who will take the

Tamar SW well, 8mi southwest of the was to come. The 1 Tcf (gross reserves) Israel handles security of energy infra- leap.”

Tamar feld, in 5400ft water depth, mark- Mari-B feld gave way to the 10 Tcf structure differently than other countries.

Catarina Podevyn, content analyst ing its eighth consecutive discovery in (gross reserves) Tamar feld, which was “In contrast to places where the compa- for Infeld Systems, said that Israel is the Levant Basin.  touted as the largest deepwater natural nies take on the security [of the assets], “Due to lack of information, there is driving offshore spend in the region, gas discovery in the world, at the time in Israel, the government, through the not enough focus on the further oppor- holding a 25% share of the central in 2009. Just four years later, Tamar was Navy, has taken on most of the security tunities offshore in Israel. The industry Mediterranean’s forecast offshore capex onstream. concerns,” she says. “I don’t really think

January 2015 | OE oedigital.com 72 072_OE0115_Geofocus2_Israel.indd 72 12/22/14 11:37 AM