Substantial signs of natural gas found at another well
Substantial signs of natural gas have been found at yet another well off the coast of the Mediterranean. Isramco said that the well reached the target strata at 3,302 meters in 1,103 meters of water. The target strata have a net thickness of 19 meters. All the well's partners have decided to go ahead with production tests, which are due to begin in a few days, and will take 35 days. The production tests will include gas flow at different rates from the target strata and measuring the well pressure and composition of the natural gas.Who says God gave us the only place in the Middle East without oil? That's just plain not true.
The estimated cost of the production tests and preparation work of the well for future production, assuming there is a gas discovery, is $33.7 million, of which Isramco's share is $13 million.
Drilling of the Shimshon 1 well began in April. The Shimshon prospect has an estimated 2.3 trillion cubic feet of natural gas with a probability of success of 20%. The size of the reservoir is less than a quarter of the Tamar discovery. If Shimshon is found to be commercial, it will be Israel's first large natural gas offshore discovery in which Noble Energy Inc. and Delek Group Ltd. are not partners. Isramco and its affiliates own 60% of Shimshon and well operator ATP Oil & Gas Corporation owns 40%. Isramco has contracted to sell 10% of Shimshon to Modiin Energy LP.
Labels: oil and gas exploration
posted by Carl in Jerusalem @ 3:50 PM
1 Comments:
Mazel Tov to Israel for all these spectacular oil and gas finds! Start drilling and start selling! You'll be enormously helping the Israeli people, the people of the West in general and giving OPEC a badly needed kick in the butt!
The sooner the Israeli and North American shale oil and gas deposits are in operation and selling, the sooner this will help break OPEC, maybe stop Saudi export of Wahhabi Islam, put severe pressure on the Iranian economy and reign in the ME energy-fed dictatorships in general.
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