Noble upgrades gas estimate for Leviathan offshore Israel

Offshore staff

HOUSTON – Noble Energy has delivered an upbeat verdict on its Leviathan appraisal well offshore Israel.

Leviathan #3 was drilled in 5,480 ft (1,670 m) of water on the Amit license, more than 3 mi (4.8 km) east of the original gas discovery. It encountered around 290 net ft (88 m) of natural gas pay in multiple intervals.

Reservoir thickness and quality were both greater than predicted. The well also confirmed the gas/water contact.

Chairman and CEO Charles D. Davidson said: “The results of the appraisal well are very encouraging and validate our seismic modeling and petrophysical interpretation of this substantial resource.”

The rig used for this well is returning to the Tamar field to finish development drilling. Tamar remains on schedule for commissioning in late 2012.

Noble expects to return to the suspended Leviathan #1 during 1Q 2012 to test a deep oil concept in the Levant basin after it has finished current drilling operations at Cyprus A-1 on block 12 offshore Cyprus.

Recently the company started drilling the Tanin exploration well in Israel’s Alon A offshore license. The well is targeting a natural gas interval analogous to that encountered at Tamar and should reach targeted depth in late February.

Noble operates Tanin with a 47.06% interest, in partnership with Delek Drilling and Avner Oil Exploration (each 26.47%).

12/20/2011



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