Resource estimate hiked for Israel nearshore license

Modi’in Energy LP has published a resource report that revises upwards the best estimates of gross recoverable prospective oil and gas resources on the Yam Hadera license in the Mediterranean offshore Israel.

Adira Energy Ltd., Toronto, has an option to purchase as much as a 15% participating interest in Yam Hadera until 14 business days before the signing of a rig contract for the license.

Modi’in, in a public disclosure dated July 17, said consultants Netherland, Sewell & Associates Inc. estimated the prospective resources at 208 million bbl of oil, revised upward from 133 million bbl, and 3.4 tcf of gas, revised upward from 1.4 tcf. Geologic probabilities of success are 17-29% for different horizons.

The report is based on reinterpretation of seismic data relating to the northern closure of the license, but there is no certainty that any resources will be discovered or commercial produced, Adira noted.

Yam Hadera lies 30 km off Israel between Hadera and Haifa contiguous and directly northwest of Adira’s Gabriella and Yitzhak licenses.

Related Articles

BOEM answers assertions

09/01/2014

A federal government agency's scientists usually don't feel compelled to more fully explain the basis for their decisions.

Gazprom Neft starts exploratory drilling in Iraq's Kurdistan region

09/01/2014

JSC Gazprom Neft has commenced with exploratory drilling on the Shakal block in the southwest part of Iraq's Kurdistan region.

Static, dynamic data integration improves reservoir modeling, characterization

09/01/2014 This article introduces a methodology for reservoir characterization, geological modelling, and well-performance prediction. The methodology integr...

Virtual flow metering improves Chinese offshore production

09/01/2014 A common problem for inflow-rate metering in subsea wells is the lack of real-time, three-phase flow rates, which are critical for reservoir charac...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected