In February, the Tanin gas reserve had been estimated at 1.2 TCF by Noble, which is doing the drilling.
By Lior Zeno

Israel’s newest offshore natural gas find contains 1.1 trillion cubic feet of gas, announced Delek Drilling and Avner Oil Exploration on Friday – offering a slightly lower estimate than their partner Noble Energy.

In February, the Tanin gas reserve had been estimated at 1.2 TCF by Noble, which is doing the drilling.

The reserve is a relatively small find and lies next to the massive Leviathan prospect, which is thought to contain 17 TCF. But the companies could extract the gas using much of Leviathan’s infrastructure, which would reduce costs.

The updated estimate, provided by oil-and-gas consulting firm NSAI, is based on a different geological model than Noble used. Noble had used an average, while NSAI’s figure is a median, in keeping with instructions from the Israel Securities Authority.

The figure includes 0.6 TCF of proven gas finds, and another 0.5 TCF of potential gas.

The gas find was initially confirmed in February. The gas lies 120 kilometers northwest of the Haifa coast, and northeast of Leviathan. The drilling was conducted at 5.5 kilometers below sea level.

The drilling license is owned by Noble (47% ), Delek (26.5% ) and Avner (26.5% ).

http://www.haaretz.com/business/newest-gas-find-smaller-than-first-thought-1.423190