Baku, Azerbaijan, Dec.12
By Leman Zeynalova – Trend:
The partners on Israeli Leviathan gas field have approved the development plan for the field with a target production date for late 2019, said report issued to the Tel Aviv Stock Exchange
The development plan envisages production of about 12 billion cubic meters of gas a year at a cost of $3.5-4 billion, according to the report.
The Israeli partners in Leviathan include Delek Drilling and Avner Oil, each with a 22.67 percent stake, and Ratio Oil with a 15 percent stake. Moreover, Noble Energy Mediterranean Ltd has a 39.66-percent stake in the project.
“Approval of the development plan, work plan and proposed budget for the development of stage 1A of the Leviathan project, as well as the authorization of the Delek Group Partnerships’ managements to approve the Leviathan final investment decision, will allow us meet the group’s target of first gas from Leviathan to the Israeli market and to countries in the region by the end of 2019,” said Asaf Bartfeld, president and CEO of Delek Group, chairman of Delek Drilling.