Israel: Government okays ATP deepwater licenses

By OGJ editors
HOUSTON, June 13
-- ATP Oil & Gas Corp., Houston, and its subsidiary ATP East Med BV have acquired the Shimshon, Daniel East, and Daniel West licenses off Israel and the Israeli government has approved the licenses.

Based on the acquired licenses, ATP through ATP East Med anticipates spending $3 million to $5 million in 2011 off Israel for acquisition costs, seismic, and preliminary exploration plans.

ATP East Med, as operator, has assumed the drilling contract with Transocean Drilling Israel Ltd. for the Sedco Express drilling unit at the Shimshon location, where it anticipates drilling during the second quarter 2012. ATP expects to spend $24 million to $29 million during 2012 related to the initial exploratory well on the Shimshon license for its 40% working interest.

ATP notes that Isramco Negev, its partner in Shimshon, on Mar. 6, 2011, said consulting engineers judge the probability of success on Shimshon to be 20% with a best estimate of gross recoverable gas of 2.3 tcf.

ATP East Med is party to two other licenses off Israel that are awaiting approval by the Israeli Ministry of National Infrastructures.

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


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...