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Noble Energy, Israeli partners to begin natgas drill
October 19, 2008 / 8:49 AM / 9 years ago

Noble Energy, Israeli partners to begin natgas drill

TEL AVIV, Oct 19 (Reuters) - A consortium of Israeli companies and Noble Energy (NBL.N) of the United States said on Sunday they will soon begin drilling for natural gas off Israel’s Mediterranean coast at a cost of $144.5 million.

The Israeli partners in the project are Isramco Negev 2, Delek Drilling (DEDRp.TA), Avner Oil Exploration AVNRp.TA and Dor Gas Exploration.

The Tamar 1 drilling site is located 90 km west of the northern port of Haifa and is considered to be the most promising drilling site in Israel, Isramco said in a statement.

Noble estimates there is a 35 percent chance of finding natural gas, in the amount of 1 billion cubic meters, the statement said.

Isramco Negev 2 is a subsidiary of Naphtha Israel Petroleum Corp (NFTA.TA).

Noble, Delek and Avner are already developing a natural gas site off Israel’s southern coast.

Reporting by Tova Cohen; Editing by Tomasz Janowski

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