Partners in Israel's Tamar Gas Field Agree to Further Expand Production

Source Company Press Release
Company Chevron Corporation, Isramco, Inc, Mubadala Petroleum LLC, Tamar Petroleum Ltd
Tags Country: Israel, Upstream: Drilling Activity, Upstream News
Date February 18, 2024

The partners in Israel's Tamar natural gas field said on Sunday they agreed to expand production at the offshore site, which is a major energy source for Israel and also supplies Egypt and Jordan.

Field operator Chevron said the move will increase Tamar's production capacity to up to 1.6 billion cubic feet per day, from a current 1 billion cubic feet.

This "reflects Chevron's ongoing commitment to partnering with the State of Israel to continue development of its energy resources for the benefit of domestic and regional natural gas markets," said Jeff Ewing, Managing Director of Chevron's Eastern Mediterranean Business Unit.

This second phase, Chevron said, includes reinstatement of the existing compressors at the onshore terminal in the city of Ashdod, and builds on a previous decision to invest in a third pipeline between the field and platform.

"Both phases of the Tamar expansion are scheduled for completion in 2025," it said.

Tamar Petroleum, another partner in the project, said in a regulatory filing the new investment is for about $24 million.

Source: EvaluateEnergy® ©2024 EvaluateEnergy Ltd