Monday, July 28, 2014

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More Results for Eastern Mediterranean's Levant Basin

Natural gas drilling in the eastern Mediterranean appears to yielded more positive results.

Ratio Oil said on Sunday it found "initial indications" of natural gas at the Dolphin 1 field, 110 km off Israel's coast.

An earlier assessment provided by a consulting firm estimated that Dolphin 1 contained 0.55 trillion cubic feet of gas (tcf), smaller than the nearby Tamar field, which holds 8.4 tcf of gas.

Texas-based Noble Energy has a 39.66 percent stake in the Dolphin prospect. Avner Oil and Delek Drilling each own 22.67 percent. Ratio Oil owns 15 percent.

The consortium was responsible for the largest off-shore discovery of the past decade at the Leviathan site last year, which is estimated to have 16 tcf of natural gas.

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