Business in Brief

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Estimate for Leviathan gas increased by 6%

Noble Energy, 40% owner of the offshore Leviathan natural gas field, yesterday raised its average estimate reserves to 18 trillion cubic feet from 17 TCF following completion of its Leviathan 4 exploratory drilling. Noble assigned a 25% probability for the reserve containing at least 21 TCF and a 75% probability for holding more than 15 TCF. But Delek Group, with a 45% stake in Leviathan, and Ratio Oil Exploration with a 15% stake, haven’t yet revised their estimates and won’t necessarily do so. Israeli reporting is centered on the median estimate while U.S. reporting is based on the average. (Itai Trilnick )

Average wage climbed 2.9% in 2012

Israeli workers earned 2.9% more last year than in 2011, with the average monthly gross wage during the year rising to NIS 9,022, according to a report released yesterday by the Central Bureau of Statistics. The number of salaried jobs in the country reached 3.11 million. Mine workers, namely those in the natural gas industry, topped the list with monthly salaries averaging NIS 26,601 followed by electricity and water workers with NIS 17,332 and financial services and insurance employees with NIS 16.023. People employed in education made far less than average (NIS 7,188 ), while those in the hospitality industry closed the list at just NIS 4,242 a month. (Moti Bassok )

McClure’s fund makes first Israeli investment

Dave McClure’s venture capital fund 500 Startups said yesterday it made its first investment in an Israeli start-up, joining a group putting money into MyPermissions, the developer of an add-on for Internet browsers and iOS and Android applications. 500 Startup led a $1-million round of seed funding that included Plus Ventures, 2B Angels, lool ventures and Robby Hilkowitz. In November, McClure led a trip to Israel in the framework of Geeks on Plane. “Our decision to invest in companies is based on an initial 15- to 30-minute meeting,” he told TheMarker. MyPermissions allows users to control third-party access to their personal information via social media. (Orr Hirschauge )

A drilling rig in the Leviathan gas field in the Mediterranean. Credit: Albatross