Leviathan partners will begin drilling a new well in the Leviathan basin, located approximately 130 kilomters west of Haifa, Israel in the first quarter of 2017, according to a statement released by the Delek Group, a partner in the field, on Sunday.
The partners approved an appraisal and production at the Leviathan-5 well, which will become part of a series of production wells in the Leviathan Field, the statement read.
After an initial appraisal stage, the $77 million well will be used to produce natural gas. The well will serve both the Israeli local market and potential export outlets.
The water depth at the site of the well is approximately 1,740 meters, and the final planned depth is about 5,200 meters below sea level.
"The appraisal well for Leviathan-5, which in the future will be connected to the Leviathan field production network, joins a series of steps that we have announced related to financing the development," Asaf Bartfeld, president and CEO of Delek Group, and chairman of Delek Drilling, was quoted as saying in the statement.
"These steps will allow us to comply with the timetable to produce natural gas from Leviathan by the end of 2019," he concluded.
(Anadolu Agency)
