Drilling Halted In Israel's Leviathan Well On Technical Issues
05 Settembre 2011 - 12:57PM
Dow Jones News
The Israeli partners in the offshore Leviathan natural gas field
Monday said drilling in one of its wells has been halted due to
technical problems.
The operators were trying to fix the problems Monday, and said
it is too early to tell if the current issues will affect the
timetable or success of the well, according to Avner Oil and Gas
Ltd. Partnership (AVNR.L.TV), one of the partners in the
project.
This is the third time drilling has been halted due to technical
problems in recent months.
Texas-based Noble Energy Inc. (NBL) operates the Leviathan field
along with Israeli companies Avner, Delek Drilling Ltd. Partnership
(DEDR.L.TV) and Ratio Oil Exploration Ltd. Partnership
(RATIL.TV).
The Leviathan natural gas field is estimated to contain up to 16
trillion cubic feet of natural gas and is expected to begin
production in 2017.
At 0955 GMT, shares of Avner were down 0.027 shekels, or 1.46%,
at ILS1.81 ($0.50); shares of Delek Drilling were down ILS0.19, or
1.83%, at ILS10.20; and Ratio shares were down ILS0.013, or 3.89%,
at ILS0.346, in a lower Tel Aviv market.
-By Sara Toth Stub, Contributing to Dow Jones Newswires,
saratoth@gmail.com
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