Israel’s energy ministry has instructed Chevron Corp. to restart operations at the offshore Tamar natural gas platform, nine days after it was shut due to unrest in the region, the company said.
Production at the Tamar platform, located some 15.5 miles off the city of Ashdod along Israel’s southern Mediterranean coast, was expected to reach full capacity within 36 hours of its restart, Chevron said in a statement May 21.
Chevron operates and holds a 25% stake in the Tamar gas field, which was shut May 12 on the instructions of the government after violence erupted in Israel and the Gaza Strip.
It produced a total of 8.2 billion cubic meters (Bcm) of gas in 2020, of which 7.7 Bcm went to Israel, 0.3 Bcm to neighboring Egypt and 0.2 Bcm to Jordan, data from Israeli energy firm Delek, which also holds a stake, shows.
Recommended Reading
Artificial Lift Firm Flowco Seeks ~$2B Valuation with IPO
2025-01-07 - U.S. artificial lift services provider Flowco Holdings is planning an IPO that could value the company at about $2 billion, according to regulatory filings.
Utica’s Infinity Natural Resources Seeks $1.2B Valuation with IPO
2025-01-21 - Appalachian Basin oil and gas producer Infinity Natural Resources plans to sell 13.25 million shares at a public purchase price between $18 and $21 per share—the latest in a flurry of energy-focused IPOs.
Artificial Lift Firm Flowco’s Stock Surges 23% in First-Day Trading
2025-01-22 - Shares for artificial lift specialist Flowco Holdings spiked 23% in their first day of trading. Flowco CEO Joe Bob Edwards told Hart Energy that the durability of artificial lift and production optimization stands out in the OFS space.
Mach Prices Common Units, Closes Flycatcher Deal
2025-02-06 - Mach Natural Resources priced a public offering of common units following the close of $29.8 million of assets near its current holdings in the Ardmore Basin on Jan. 31.
Dividends Declared Week of Feb. 24
2025-03-02 - As 2024 year-end earnings wrap up, here is a compilation of dividends declared from select upstream and midstream companies.