Woodside Bidding for Petroleum Licenses Offshore Israel

Australia's Woodside Petroleum confirmed Tuesday that it is in an early phase of a bidding process for licenses offshore Israel.

In a published statement on the company's website, Woodside said it is bidding for the 349/Rachel and 350/Amit petroleum licenses covering the Leviathan gas fields.

"Woodside will not be giving out additional information at this point. Any speculation about price and commercial terms is premature [at this stage]," a spokesperson representing Woodside told Rigzone.

The Leviathan field is located in 5,361 feet (1,634 meters) of water offshore Israel. Noble Energy confirmed in January last year a significant natural gas discovery at the Leviathan prospect. The well encountered a minimum of 220 feet (67 meters) of natural gas pay in several sub-salt Miocene intervals. The results are in line with the pre-drill estimated resource range, with a gross mean for Leviathan of 16 trillion cubic feet.

Noble holds 39.66% of Leviathan; Delek Group Ltd. subsidiaries Delek Drilling Ltd. Partnership and Avner Oil Exploration Ltd. Partnership each hold 22.67%; and Ratio Oil Exploration Ltd. Partnership holds 15%.


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