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Delek Drilling’s Leviathan scales up production and exports

The company has reported strong gas production results from the Leviathan field, off Israel, spurring it to bring forward the drilling of another production well

Delek Drilling’s Leviathan scales up production and exports

Jerusalem, August 27 - Neftegaz.RU. Delek Drilling has reported strong gas production results from the Leviathan field, off Israel, spurring it to bring forward the drilling of another production well, Energy Voice reported.

Delek reported it was on track to produce 10.8 billion cubic metres in the year from Leviathan, up from its forecast of 10.2 bcm in 2021.
The Israeli company ramped up sales to Egypt, from 0.4 bcm to 1.6 bcm, in the quarter.
It also increased sales to the domestic market, from 1.9 bcm to 2.6 bcm.

Exports to Jordan and Egypt accounted for 53% of Leviathan’s sales in the 1st half of the year.
In the 1st quarter, Leviathan sent 1.26 bcm to Israel, 0.66 bcm to Jordan and 0.79 bcm to Egypt.

As a result of this strong performance, it said, the operator Chevron had recommended that the partners accelerate drilling plans for a production well to early 2022.
The Stena Forth will drill the Leviathan-8, with a total cost of $248 million, including completion and connection.

Total Leviathan production was 5.5 bcm in the 1st half.
This provided $106 million to profit for the period, up from a year on year loss of $16.5 million.

Delek reported its net profit for the 1st half had reached $180 million.
This was up from a loss of $932 million in the 1st half of 2020.

Delek announced a binding agreement to sell a 22% stake in the Tamar field to Mubadala Petroleum for $1.1 billion.

Author: Ed Reed

Source : Neftegaz.RU


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