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Israel's Dolphin field estimated gas resources slashed by 85% to 81.3 Bcf


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The estimated resources of the Dolphin offshore gas field have beensharply reduced, according to a statement by the Israeli partners in thelicense.

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Delek Drilling, Avner Oil and Gas and Ratio Oil Exploration slashed the estimate by 85% to 81.3 Bcf from 550 Bcf based on analysis by NetherlandSewell & Associates.

Noble Energy Inc is also a partner in the Dolphin license, which islocated 30 km northwest of the huge Leviathan field.

Delek Drilling, Avner Oil and Gas and Ratio said that it was notpossible at this stage to determine a timetable for the development of theDolphin reservoir and that this would depend on a review of plans fordeveloping adjacent reservoirs.

The statement went on to say that Dolphin could eventually be integratedinto adjacent fields such as Leviathan or Tamar.

In a separate announcement, the companies said that Netherland Sewell & Associates best estimate for the gas resources in the Leviathan field was16.8 Tcf with a 50% probability of success.

The partners stressed that the main potential for the resources is theinternational market. And they added that each alternative has a differenttimetable and cost and that until the preferred option is chosen it was notpossible to make a reasonable estimate for either the timetable or thebudget for developing Leviathan.

--Neal Sandler,