Another natural gas deposit discovered in Israel

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Independent exploration and production firm Noble Energy announced on Wednesday that they  made a new deep-water natural gas discovery off Israel.

The company founded by Lloyd Noble is the operator of the license where the Karish well is located, about 20 miles northeast of the Tamar field in the Mediterranean Sea. Noble said the well encountered 184 feet of net natural gas pay.

Discovered gross resources, combined with resources in an adjacent block, are estimated to range between 1.6 trillion and 2 trillion cubic feet of natural gas, the company said.The find marks the seventh consecutive field discovery for Noble Energy and its partners in the Levant Basin of the eastern Mediterranean Sea.

In addition to being the operator, Noble Energy holds a roughly 47 percent stake in the license where the well sits. Avner Oil and Delek Drilling also have stakes.Noble Energy has onshore operations in the U.S. and offshore operations in the Gulf of Mexico, eastern Mediterranean and West Africa.

Read more: Fuel Fix

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