Connecting to LinkedIn...

W1siziisijiwmtuvmdqvmtuvmdgvntqvmzgvnzi1l01ptlrbu0hfqkxpr19vtljftkrfukvex0lnqudfx3jlc2l6zwrfyw5kx3jlbmrlcmvklmpwzyjdlfsiccisinrodw1iiiwimtkymhgxmjuwiyjdxq

Blog

Major new gas field found off Israel's Mediterranean coast

15/12/2014 by Sharon Shahzad

W1siziisijiwmtqvmtivmtuvmtqvmduvmzkvmtmzl0lzcmflbf9yawcuslbhil0swyjwiiwidgh1bwiilci2mdb4ndawxhuwmdnlil1d

The field is estimated to hold about 3.2 trillion cubic feet of gas, making it third-largest in the region

Israel, a fast-emerging natural gas power, may soon increase its reservoirs.

A seismic survey of a new natural gas field off Israel's Mediterranean coast indicates it may hold between 1.9 and 5 trillion cubic feet of gas, with 3.2 tcf (90 billion cubic meters) the best estimate, according to a statement made by the two companies controlling it, Ratio Oil and Israel Opportunity Energy Resources.

The Royee field, located about 150 kilometers offshore, could therefore be the third-largest in Israeli waters and fourth-largest in the Mediterranean basin.

"At the national level, the news means a lot. We have learned that the Levantine basin holds reservoirs at other depths and I hope the next government will exploit the opportunity," said Eyal Shuker, CEO of Israel Opportunity. However, economists cited by the Times of Israel said the Royee gas field may not be extracted in the near future because the "veteran" fields Leviathan and Tamar, still have much gas remaining in them.

For the time being, however, the announcement did not cause a significant stir at the Tel Aviv Stock Exchange. The shares of Israel Opportunity closed up just 3.4% and Ratio rose only 1.1%. A possible reason is the sharp worldwide drop in petroleum prices, which also influences the price of natural gas.

This article has been extracted from http://www.i24news.tv, please click on this link to read the article in full http://www.i24news.tv/en/news/israel/54499-141215-major-gas-field-found-off-israel-s-mediterranean-coast

Montash is a multi-award winning global technology recruitment business. Specialising in permanent and contract positions across mid-senior appointments across a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Energy Technology, Demand IT and Business Engagement, Digital and E-commerce, Leadership Talent, Infrastructure and Service Delivery, Project and Programme Delivery.

Montash is headquartered in Old Street, London, in the heart of the technology hub. Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News

W1siziisijiwmtyvmtivmdivmtavmdcvntcvotkwl2j1c2luzxnzigludgvsbglnzw5jzs5qcgcixsxbinailcj0ahvtyiisijm4mhgxmdajil1d

Annual growth rate for BI market set at 8.4%

2016-12-02 10:00:00 +0000

A new report has suggested that the compound average growth rate (CAGR) for the business intelligence (BI) market between 2016 and 2021 is likely to be around 8.4 per cent. The latest publication, named Global Business Intelligence Market by Mobile BI, Cloud BI, and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015-2021, said that 2015 saw the global BI sector valued at $16.33 billion. By 2021, this is expected t...

W1siziisijiwmtyvmtevmzavmtavmjavntuvndgzl09jbcbyawcgc2vhlmpwzyjdlfsiccisinrodw1iiiwimzgwedewmcmixv0

Crisis in oil and gas industry nears turning ...

2016-11-30 10:00:00 +0000

A new report has suggested that the current crisis being experienced by the gas and oil industry is nearing a turning point. As part of the 25th Oil and Gas Survey, it was found that although two-thirds of firms had cut employment levels in 2015, the speed at which these cuts are occurring has slowed. In addition, other methods of saving have been utilised to drive operational costs down. Amongst the firms questioned, it was found that 67 per cent of bu...