OilVoice - Noble Energy Announces Second Natural Gas Discovery Offshore Israel at Dalit

Noble Energy Announces Second Natural Gas Discovery Offshore Israel at Dalit

Monday, March 30, 2009

Noble Energy, Inc. announced today a natural gas discovery at the Dalit prospect in the Michal license, offshore Israel. Located in approximately 4,500 feet of water and 30 miles offshore, the well was drilled to a depth of 12,000 feet. Formation logs identified more than 110 feet of net pay in a high-quality reservoir. Dalit represents the Company's second subsalt, lower-Miocene discovery in the underexplored Levantine basin.

Charles D. Davidson, Noble Energy's Chairman, President and CEO, said, "With the successes at Tamar and Dalit, we have potentially opened up a substantial new resource basin, where we have an interest in about three million gross acres. We are moving forward with development plans to bring first production to Israel from this new region in 2012. At the same time, we continue to remain focused on the vast exploration potential remaining, and we plan to conduct new 3D seismic later this year over various leads in our other licenses in the area. Based on results from the seismic program, we could see further exploration in the region starting in the second half of 2010."

Production testing will be performed at Dalit after the well is completed. Subsequent to testing, the rig will return to the Tamar discovery in the Matan license to drill an appraisal well designed to better define the resources of Tamar.

Noble Energy operates both the Michal and Matan licenses with a 36 percent working interest. Other interest owners are Isramco Negev 2 with 28.75 percent, Delek Drilling with 15.625 percent, Avner Oil Exploration with 15.625 percent and Dor Gas Exploration with the remaining four percent.

Review all our latest Discovery news