Noble Halts Drilling Ops Offshore Israel

Noble has suspended drilling operations at the Leviathan #1 location, which was testing deeper potential in the well, offshore Israel. The Company identified wear on the wellbore casing, requiring additional material and equipment necessary to complete the drilling of the well. Noble Energy is working to secure the needed items, which are not available in Israel.

As a result, the Company is preparing to move the Sedco Express rig to the Tamar field, where development drilling is anticipated to commence in approximately one week. The development of Tamar remains on schedule for commissioning in late 2012.

Noble Energy operates Leviathan, offshore Israel in the Rachel license, with a 39.66 percent working interest. Other interest owners are Derek Drilling and Aver Oil Exploration with 22.67 percent each and Ratio Oil Exploration with the remaining 15 percent.

The Company is also the operator of Tamar, offshore Israel in the Matan license, with a 36 percent working interest. Other interest owners are Isramco Negev 2 with 28.75 percent, Delek Drilling and Avner Oil Exploration with 15.625 percent each and Dor Gas Exploration with the remaining four percent.

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