Israel's Tamar and Tamar Southwest discoveries are significant finds, with combined estimated proven and probable natural gas reserves of 10.97 trillion cubic feet (tcf) and 14 million barrels of condensate, according to a report by GlobalData.
Israel has been lacking natural gas and largely dependent on Egypt for fulfilling its requirements.
Go deeper with GlobalData
Entitled ‘Israel Tamar Project Panorama – Oil and Gas Upstream Analysis Report’, the report states that production from the Tamar field is expected to meet more than half of the country’s natural gas requirements for a minimum period of 15 years.
The field is expected to achieve peak production in 2017 and yield 1.056 billion cubic feet per day (Bcf/d) of gas and 1,372 barrels per day (bpd) of condensate. The largest customer of the Tamar field produce will be Israel Electric Corporation.
With one trillion cubic feet of reserves, the Yam Tethys field was hailed as a significant hydrocarbon reserve before the discovery of the Tamar field. Production from the Yam Tethys field started in 2004 but soon experienced depleting production rates.
A total of $380m was paid by the consortium behind the Tamar development to gain access to the Yam Tethys gas processing to enhance production from the Tamar field.
The GlobalData report reveals that an estimated $114.9m was invested in the Tamar field in 2015 for completion and start of the compressor project, which was subsequently completed in July 2015 and was followed by testing.
Connection of the Tamar Southwest well to Tamar infrastructure is also estimated to have cost $36m. Production from the field is estimated to reach 1.15Bcf/d by the third quarter of 2016.
