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Israel’s Leviathan Natural Gas Project Ready to Drill

An investment of $3.75 billion that has been agreed upon by the partners developing the Leviathan natural gas field off the coast of Israel clears the way for the nation’s largest infrastructure project to move ahead toward a target date of late 2019 for gas to reach the market. The giant gas field was first discovered six and a half years ago. After a number of bumps in the road, a group comprised of Houston’s Noble Energy, Israel’s Delek Drilling, Avner Oil Exploration and Ratio Oil Exploration, is now ready to enter the first phase in which several undersea wells will be drilled. It is expected to earn some $150 billion during the life of the Leviathan field. A Jordanian company is expected to be the largest customer for the Leviathan gas.