Field Development | Offshore
Noble Sanctions $3.75B Leviathan Project Offshore Israel
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Noble Energy has sanctioned the first phase of the Leviathan natural gas project offshore Israel, with first gas targeted for the end of 2019.
The Company estimates gross capital for phase one of Leviathan development will be $3.75 billion ($1.5 billion net to Noble Energy), which includes approximately $100 million spent in 2016 and approximately $200 million pre-investment for future platform expansion.
Noble Energy is the operator of the Leviathan Field, which contains 22 trillion cubic feet (Tcf) of gross recoverable natural gas resources.
Leviathan's initial development will include four subsea wells, each capable of flowing more than 300 million cubic feet per day (MMcf/d) of natural gas. Initial Leviathan proved reserve bookings associated with this investment are 3.3 Tcf net (9.4…
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