www.bethelfinance.com
Yam Tethys partners Delek Group Ltd. (TASE: DLEKG) and Noble Energy Inc. (NYSE: NBL) will drill an exploratory well at one of the satellite natural gas reservoirs of Yam Tethys, offshore from Ashkelon.
Netherland Sewell & Associates Ltd. (NSAI) estimates that the Yam Tethys satellite reservoirs have 1.3 billion cubic feet of gas, Noble Energy recommends recovering this gas to bridge the depletion of Yam Tethys until the Tamar reservoir, in which the two companies are also partners, comes on line in 2013.
The new exploratory well is located 3.5-kilometers from Yam Tethys's Mari B well. It is 25 kilometers northwest of Ashkelon in shallow water. The well will drill to a depth of 1,850 meters, including 375 meters of water. Drilling will take five weeks and cost $30 million.
If gas is discovered in the target strata, the companies estimate that it will cost $100 million to link it to the Yam Tethys platform.
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