BREAKING NEWS

Delek, Noble Energy discover gas at Tanin well

By GLOBES / KOBI YESHAYAHOU

FEBRUARY 5, 2012 10:59

Delek Group Ltd. and Noble Energy Inc. on Sunday reported a substantial natural gas discovery at a depth of 5,500 meters in the offshore Tanin 1 (Crocodile) well, 120 kilometers northwest of Haifa.

The Tanin discovery reportedly amounts to 1.2-1.3 trillion cubic feet, making it slightly larger than the two company's Yam Tethys reservoir, which is rapidly depleting. Delek Group owns its share of the Tanin license through Avner Oil and Gas LP and Delek Drilling LP.

The well discovered net gas-bearing strata 40 meters thick, on the basis of logging while drilling tests. Noble Energy is now stabilizing the borehole in order to conduct wireline, electrical, seismic, and magnetic tests, as well as logging tests of the composition of the natural gas, rocks, and liquids at the well.

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