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Delek to abandon well in Israel' s Yam Tethys gas reserve

BY SARA TOTH STUB

JERUSALEM -- A group of Israeli energy companies said they would abandon a well in the dwindling offshore natural gas fields of the Yam Tethys project, which was Israel' s first large energy discovery.

Delek Group, whose two subsidiaries are partners in the field with Noble Energy, said it would stop drawing gas from the Pinnacle well, which was producing 150 MMcfd, because of water production. The companies said the process of abandoning and closing off the well would stretch into next year.

The well was part of the Yam Tethys gas reserve, which was discovered in 1999 and also includes the larger fields of Mari B and Noa. Delek has said much of the gas in the reserve has been depleted, as Israel has relied heavily on it since 2011, when the gas supply from Egypt became unreliable following the public uprising against former president Hosni Mubarak' s regime. Delek said it would soon release an updated estimate of how much gas is left in the reserve.

Meanwhile, the same companies operate the Tamar gas field, which contains an estimated 9 Tcf of natural gas and began production in March. Tamar, along with the larger Leviathan field, are expected to significantly increase Israel' s energy security situation, supplying the domestic market for several decades, according to the energy ministry. The government also recently gave approval for the export of some gas, although a market has yet

Dow Jones Newswires

08/05/2013

 

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