Gas sales grow from deepwater Tamar field

Offshore staff

HOUSTONNoble Energy’s net gas sales volumes from its fields offshore Israel hit a new record of 313 MMcf/d during 3Q.

The higher volumes were due mainly to increased displacement of coal for natural gas in Israel’s power generation sector, growth from industrial customers, and strong seasonal weather demand.

Production from the Tamar field, which started up in 2013, reached a cumulative 1 tcf during the reporting period.

Noble expects to close an agreement to sell a 3% stake in Tamar for $369 million pre-tax later this month.

The company also continues to progress marketing of gas from the deepwater Leviathan field, having executed a contract to supply up to 350 MMcf/d, or 1 tcf, to NEPCO of Jordan for power production facilities over a 15-year period. Anticipated gross contract revenues are around $10 billion.

In the meantime, front-end engineering and design continues for the Leviathan production platform.

11/02/2016

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...