Tamar Partners Sell Gas to Dorad Energy (Israel)

On October 15, 2012, Take-or-Pay agreement for the supply of natural gas over either 16 years or up until the contracted quantity has been utilized, was signed by the Tamar Partners with Dorad Energy Ltd. to supply up to a total approximate quantity of 11.2BCM.

Dorad will have an option to extend the agreement for another year. In the agreement the gas price will be linked to electricity production rates as determined time to time by the Public Utility and Electricity Authority and includes a ”floor rate”. Supply of gas is expected once the Tamar reservoir begins to produce gas.

Tamar Partners group includes Noble Energy Inc.(operator), Delek Group Ltd., Isramco Ltd., and Alon Natural Gas Exploration Ltd. First gas from the Tamar offshore reservoir is expected to start flowing in the second half of 2013.

The Tamar field is estimated to contain 8.4 trillion cubic feet of gas and will be produced through several subsea wells connected to the platform by 150 km long flow lines.

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Offshore Energy Today Staff, October 15, 2012