US based firm Noble Energy partners with two firms in Israel to ensure a natural new gas well is dug in the farms of Israel.
The Times of Israel reported,”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“.
Two top notch Israeli firms are partnering with US firm on this project. The aim is to bring more out of the resources we have and attain sustainability. Delek Drilling, Anver Oil both had rights to construct and use Tamar reservoir for themselves.
But this association and million dollar deal has made them huge profits too. Since, d digging the well and constructing the infrastructure is being financed by an American company, they can reap lots of profit in this joint venture.
The well drilling will start at the end of 2016 and it will ensure that natural gas can be supplied during peak times. Yes, to meet the rising demands, abundant supply is required. Tamar fields, Israeli expertise and American support can together make it possible.
Israel is also developing new energy projects and is continuing its discovery of other energy fields. Many are willing to invest in Isarel’s energy ventures and US Consortium is at it with this being their second venture together.
New gas well 5050 metres below sea level
Want to learn more about the new gas well being dug and why it needs millions of dollars to be invested? The Tamar fields are rich in natural gas, but natural gas production is not a child’s play. You need significant expertise in this. Therefore the firms experts in drilling and extracting this gas are at the forefront of this deal.
Israel-US Energy Deal Partners said,”The partners said “In the light of the amount of production from the Tamar reservoir, and in the light of existing and expected demand for natural gas from it, the drilling operator, Noble Energy, recommended carrying out the drilling, with the aim of boosting the reserves in the production system, to make maximum supply possible from the reservoir at times of peak demand“.