Adira Energy received approval from the Tel Aviv District Committee for Planning and Building for exploratory oil drilling in the Gabriella reservoir offshore Israel.
Exploration is scheduled to begin in the second quarter.
Gabriella reservoir is estimated to contain 110.1 million bbl of contingent oil reserves and 55 billion cu m of natural gas. Adira Energy expects to produce from Gabriella for 10 years and expects 50,000 b/d during 3 years of peak production.
The company has three exploration licenses off Israel: Gabriella, Yitzhak, and Samuel. The licenses are, respectively, 6.2 miles offshore between Netanya and Ashdod, 5.6 miles offshore between Hadera and Netanya, and next to the coast between Ashkelon and Bat-Yam (OGJ Online, July 24, 2012).