On Dec. 17, the Jerusalem District Court, in a surprise decision, issued a temporary order that barred any gas emissions from Leviathan, effectively putting the project, which was due to come on line this month, on hold.
The director general of Israel’s Energy Ministry sent a letter to officials at the three companies, saying development must not commence until agreement is reached between the governments of Israel and Cyprus.
Here’s a snapshot of energy deals from the past week including Equinor’s sale in the Eagle Ford to Repsol plus nearly $300 million worth of shale acquisitions by Marathon Oil.
The project in the Eastern Mediterranean is running ahead of schedule and is $150 million under budget.
Karish North also holds some light oil, which brings the field up to 190 million barrels of oil equivalent.
Citing a senior executive from Hellenic, Greek media reported on Oct. 31 that the refiner had indications for estimated gas reserves of 10 trillion cubic feet (Tcf) off Crete, based on past seismic data.
Israel’s energy ministry hopes new activity will help position the country as a regional energy hub after massive amounts of natural gas were discovered off its shores.
A Three Forks producer by WPX, a Woodford completion in Grady County, Okla., and an oil discovery offshore Angola top this week’s drilling activity highlights from around the world.
The minister, Tarek al-Molla, said in a statement that the current production level was reached four months ahead of schedule. There are now 12 wells in production in the field, the statement said.
Marathon Three Forks discovery, Marcellus completions from Chesapeake and Cabot plus an offshore discovery by Exxon Mobil top this week’s drilling activity highlights from around the world.