The American
production company Noble Energy is expected to announce in the coming days an
investment of $550 million in the development of Israel’s Leviathan gas field,
according to a company outlook and guidance report for 2017 published Monday.
The $550
million represents one-fifth of the company’s global investments of $2.3
billion to $2.6 billion for 2017.
Noble Energy
President and CEO David Stover said in the guidance report, “We have a
tremendous opportunity with the Leviathan project offshore Israel. In 2017, our
teams will begin project development, with first gas targeted for the end of
2019. I have no doubt that our outstanding track record of major project
execution will again deliver substantial value to the company.”
The report
also said, “Capital expenditures in the Eastern Mediterranean for the initial
development of the Leviathan project include drilling one production well,
long-lead investment items, and ramp up of construction activities. The company
will also complete an additional production well at Tamar [gas field], which
was drilled in the fourth quarter of 2016.”
Israel is
currently engaged in discussions with Turkey, Cyprus, Greece and Italy over the
possibility of exporting its natural gas via underwater pipelines.
(Breakingisraelnews)
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