Noble Energy and its partners in the Tamar project will drill at the Tamar-8 well offshore Israel in Q4 2016.
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Image of Tamar operations, from Delek. |
Tamar-8 is located 100km west of Haifa, at some 1670m water depth, with its final depth targeted at 5050m below sea level.
The Tamar partners expect Tamar-8 to increase the redundancy in the production system and enable maximum supply from the Tamar reservoir during peak demand. Additionally, the infrastructures required will be built in the Tamar field in order to connect the well to the Tamar project's existing subsea production system, Delek Group said.
Drilling at the well is expected to take about four months, including completion and connection to the production system, and will target “Tamar Sands” from the Miocene epoch. The partners expect to approve a contract with a drilling rig in the coming weeks.
Tamar-8 is designed to accelerate optimal production from the Tamar reservoir. The joint venture is anticipating that the drilling of the well, its completion and connection to the existing subsea production system of the Tamar project, to be performed consecutively.
The budget for Tamar-8 is approximately US$265 million, which includes $160 million for completion, and $105 million that will be designated for the construction of related infrastructures in the Tamar project, including development of the subsea system and connection of the well to the existing Tamar infrastructure.
According to Delek, the development of the Tamar SW field is planned for the future, in accordance with the project's development and production plan.
Earlier this week, Noble entered into a $369 million definitive agreement with the Harel Group and Israel Infrastructure Fund (IIF) to divest 3% working interest in the Tamar field. The deal is expected to close in Q3.
Prior to the announced working interest sale, Noble Energy operated the Tamar field with a 36% working interest. The company is carrying out an 11% sell-down of its interest in the Tamar field in accordance with Israel's approved Natural Gas Regulatory Framework. Noble Energy anticipates the sale of the remaining 7-8% working interest over the next 36 months. Following completion of this sell-down process, Noble Energy will retain a 25% working interest and operatorship in the Tamar field, which has recoverable gross mean natural gas resources of 10 Tcf.
Noble currently operates Tamar with 36% stake. The remaining Tamar partners include Isramco Negev 2 (28.75%), Delek Drilling (15.625%), Avner Oil (15.625%), and Dor Gas Exploration (4%).
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