Israel: Pinnacles Drilling Starts Soon, Delek Says

Delek Group has reported that Pinnacles #1 exploration well, situated close to Mari-B is due to start in the coming days and is expected to last for approximately 5 weeks.

According to a report prepared by Netherland, Sewell and Associates (NSAI) the estimated unrisked gross prospective gas resources for the Pinnacles Prospect, as of December 31, 2011, is expected to be:

Israel’s financial newspaper Globes reports that the drilling operations will cost $30 million. The Globes further says that if gas is encountered at the Pinnacles well, the partners (Delek, Noble Energy) will need to shell out $100 million to tie the well to the Yam Thetys platform. Noble Energy in February said that ENSCO 5006 rig would be used for drilling at Pinnacles area.

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Offshore Energy Today Staff, March 5, 2012