Noble Energy has received approval from the Israeli government to develop the offshore Leviathan natural gas field, which is estimated to hold 22 Tcf of recoverable gas resources. The development calls for subsea production wells to be connected to a fixed platform that will tie into onshore receiving facilities. The platform’s expected initial production capacity is 1.2 Bcf/D, with a capability of producing up to 2.1 Bcf/D. The field is slated to start up in 2019 at an estimated phase one gross investment cost of USD 3.5 billion to USD 4 billion, according to Tudor, Pickering, and Holt. Noble, the operator, has a 39.66% working interest. Delek Drilling and Avner Oil Exploration both hold 22.67% interests, and Ratio Oil Exploration (1992) holds a 15% interest.
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