Wednesday, January 21, 2009

Guess who's coming to dinner?

"According to reports in Bloomberg, claims were made in the Lebanese parliament today that part of the huge gas find announced yesterday in the Tamar-1 field off Haifa is really in Lebanese territorial waters.

The Tamar-1 well, located in 5,500 feet of water 90 kilometers west of Haifa, was drilled to a total depth of 16,076 (4,900 meters) feet to test a subsalt, lower-Miocene structure in the Levantine basin. Preliminary indications show 88 billion cubic meters of natural gas at the Tamar prospect worth an estimated $15 billion. Israeli government revenue alone from the find could amount to NIS 11 billion." (Thanks Philippe)

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