Tamar gas reserve bigger than expected

Massive reserve off Haifa shores thought to hold 140 billion cubic meters, may hold as much as 180 BCM.

By JPOST.COM STAFF
July 8, 2009 09:08
Tamar gas reserve bigger than expected

natural gas rig 248.88. (photo credit: Courtesy)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

The natural gas reserve discovered off the shores of Haifa is approximately 25 to 30 percent richer than previously assessed, US oil operator Noble Energy Inc., said after drilling to verify the find. The site, previously assessed to hold more than 142 billion cubic meters (BCM) of natural gas, may in fact hold as much as 180 BCM. The potential revenue from selling gas from the offshore reserve may reach $30-35 billion. At the end of April, drilling to verify the size of the reserve was conducted at a site dubbed Tamar 2, north of Tamar 1. Over the last few days, electronic testing suggested that the amounts of gas at the Tamar reserve were higher than initially expected. In related news, a site called Dalit, west of the coast of Hadera, was assessed to hold some 14 BCM of natural gas.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection

By GLOBES, NIV ELIS