Today: September 9, 2010

 

Israeli Gas Find Even More Huge

Posted: Thu 12th February 2009 10.44 AM  | Author: Sam Hailes

A massive natural gas find off the coast of Haifa which was said to have been able to fuel Israel for 15 years is more than 60 percent larger than originally estimated, according to Noble Energy Inc.  

Four Israeli companies have the majority of the stake on the dig – named Tamar-1 – which is estimated at a potential of 5 trillion cubic feet of natural gas. That estimate is up from January, at which time the partners believed the well contained 3 million cubic feet of gas.

"The implications of this discovery to Israel cannot be overstated," said Noble Energy Chief Executive Officer Charles Davidson.

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