Gas, condensate output increases at Tamar offshore Israel

Offshore staff

TEL AVIV, Israel – Delek Group says gas production from the offshore Tamar facilities totaled 1.8 bcm (64 bcf) during 2Q 2015.

This compares with 1.6 bcm/57 bcf (including the near-shore Yam Tethys field) during the same period in 2014.

In addition, the Tamar partnership sold 85,000 bbl of condensate in 2Q 2015, up from 82,000 bbl a year earlier.

Last month the Israeli government approved a framework for increasing natural gas production at Tamar and for accelerated development of the offshore Leviathan, Karish, and other natural gas fields owned by the same partnership.

According to Delek, this provides a mechanism for regulatory stability for at least 10 years, does not reopen existing contracts and agreements, and allows Delek to retain its current ownership interest in Leviathan.

Issues covered include the setting of prices and additional conditions in new contracts for selling natural gas from Tamar and Leviathan, until Israel introduces competition in its local energy sector.

09/01/2015

 

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