New Layer of Gas Discovered at Tamar Field Off Coast of Haifa

Amount of natural gas and economic implications of discovery at Mediterranean Sea site yet to be determined.

TheMarker
TheMarker
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TheMarker
TheMarker

A deeper layer of natural gas has been discovered at the Tamar field, off the coast of Haifa, according to a report published on Thursday by Delek Drilling and Avner Oil Exploration.

The impact of the newly discovered reserve has not yet been analyzed nor released in full. The significance of the newly discovered structure will depend on the amount of natural gas at Tamar and on the estimations of additional layers in other areas of the Mediterranean Sea that have not yet been discovered.

The deep-sea rig at Tamar, off the Haifa shoreline.

The new reserve, 'Layer D', was discovered beneath 'Tamar 3', and is said to be up to 25 meters wide.

According to the report, Noble Energy – the American partner leading the consortium – is gathering data on Layer D and analyzing the implications of the extent of the reserves at Tamar. It is currently not possible to determine the size and economic implications of the newly discovered reserve.

Noble owns 36% of Tamar, while Isramco Negev owns 28.75% and Delek Group, controlled by Yitzhak Tshuva, has a 31% percent stake through two units with equal shares of 15.6% each, Avner Oil Exploration and Delek Drilling.

The Tamar site is the largest natural gas discovery in Israel and plans on selling natural gas to Israel in 2013.

The Lebanese proposal of its maritime border with Israel that is currently under dispute does not include the Tamar and Leviathan gas prospects.

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