Gas: Israel's gas field bigger than predicted

China Daily - The natural gas reserve discovered off the shores of northern Israel's Haifa city, is approximately 25 to 30 percent richer than previously assessed, local daily The Jerusalem Post reported on Wednesday.

After drilling, US oil operator Noble Energy Inc. said that the site, previously assessed to hold more than 142 billion cubic meters (BCM) of natural gas, may in fact hold as much as 180 BCM, according to the report.

The potential revenue from selling gas from the offshore reserve may reach $30 billion to $35 billion, it added.

Published by Mike Hitchen, Mike Hitchen Consulting
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