A consortium led by US firm Noble Energy has approved a $265-million project to sink a new well in a major natural gas field off Israel, officials said Sunday. Delek Drilling and Avner Oil Exploration, Israeli firms that are part of the partnership led by Noble, announced the financing for the Tamar field in the Mediterranean.
"The Tamar partners decided to approve a budget of about $265 million for drilling 'Tamar 8' and connecting to existing infrastructure in the Tamar field," Delek and Avner said in a joint statement.
It said the latest well would allow "maximum supply from Tamar field during times of peak demand, in light of the volume of production from Tamar and the existing and expected demand for natural gas from the field".
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