05.07.2009

Russia has the world’s largest proven reserves of natural gas, followed by Iran and Qatar. Qatar is the world’s largest supplier of LNG. Other major gas exporters include Algeria (8th largest reserves in the world), Brunei, Indonesia, Malaysia, Norway, Nigeria, Oman, Australia and Turkmenistan. At the end of 2006 global natural gas reserves were as follows (in trillion cubic meters): Middle East (73.4), Europe and Eurasia (64.13), Asia Pacific (14.82), Africa (14.18), North America (7.98), South & Central America (6.88).

Owner Tova Luskin, an ultra-Orthodox Jew. Givot Olam is an Israeli O&G partnership traded on the Israeli Stock Exchange which believes in biblical prophecies of finding oil and gas in the holy land. The main asset of Givot Olam is 99% of lease # I/11 Rosh Haayin containing the Meged Oil Field and covering 243,000 dunam. Their other asset is License #330 Maccabi covering an area of 110 dunam. This License contains the southern extension of the Meged Oil Field. During 2006 Givot Olam invested 4.6 million shekels and concluded 2006 with a net loss of over 7 million shekels. In May 2007 Givot Olam entered into an agreement with an American company called Shayar that will invest $50 million for Givot Olam to carry out 50 exploration drills in Israel. Under the terms of the agreement, Shayar will receive 65% of the proceeds until it recuperates its investment after which proceeds will be shared equally between Shayar and Givot Olam. Givot Olam is undertaking the development of the Meged Oil Field in the Rosh Ha’ain area and the drilling of Meged 5.

The three Meged Oil Wells drilled by Givot Olam between 1994 and 2004 have discovered in the Triassic Mohilla A Formation, a structure with a gross oil column of over 400m thick containing several layers of porous, oil-saturated reservoirs in which a continuous oil reservoir approximately 20 meters thick was proven by testing. Based on seismic and well information the areal extent of the oil accumulation is app. 200 km² at the depth of 4,500m. The Meged oil is of good quality, 38° API and contains a substantial amount of petroleum gas (based on report by Givot Olam).

On 10th January 2010 Givot Olam completed their exploratory drilling at the Meged 5 drilling near Rosh Haayin and reached a td of 4,697 meters. After this they moved to the phase of analyzing the electric logs. This phase was completed on the 18th January. A first analysis of the electric logs showed the presence of an oil column of 600 meters in length, out of which 50-100 meters show a potential for production. Final results will only be available after the electric logs have been fully analyzed as well as all the other data.

The Meged 5 drilling on the hills at the Rosh Ha’ayin site is based on a prospectus that was put together by a national exploration company in the 1980s under the direction of Dr. Charlie Druckman. Structures similar to the one at Rosh Ha’ayin exist at five other spots in Israel; each has been drilled, and, up to now, each has been a disappointment.

One billion watt-hours or one million kilowatt-hours

One million kilowatt, one billion watts. Giga means one billion units. For instance 2,500 million KwH is equal 2,500 Gwh… kilo, mega, giga, tera is 1,000 each one (thus kilowatt is equal to 1000 watt, etc.)

One billion joules, approximately equal to 948,211 British thermal units. One million Btus equals 1.0546175 GJ.

The world’s largest oil field situated in Saudi Arabia. Has been in production already for 57 years. The field is still producing near its peak as engineers have been able to keep output stable with enhanced recovery methods

The progressive increase of temperature with depth into the Earth

The word geothermal comes from the Greek words geo (earth) and therme (heat), thus geothermal energy is heat from within the earth. We can use the steam and hot water produced inside the earth to heat buildings or generate electricity. Geothermal energy is a renewable energy source because the water is replenished by rainfall and the heat is continuously produced inside the earth. Geothermal power supplies less than 1% of the world’s power. Electricity has been generated successfully from a producing oil well’s geothermal hot water for the first time in October 2008. DOE’s Rocky Mountain Oilfield Testing Center and Ormat Technologies used a standard commercial Ormat Organic Rankine Cycle power plant, using hot water from a producing oil well to exchange heat in an Ormat Energy Converter. This project is unique in its production of onsite renewable power and has the potential to increase the productivity and longevity of existing US oil fields. Harnessing hot water produced during production to power the oil field could lead to more economical access, especially in older, depleted fields. A large number of US oil and gas fields produce hot water as well as hydrocarbons. DOE said that while the unit at NRR-3 is the first to use geothermal water from a producing oil field, it is similar to a 250 kw Ormat unit which has generated electricity at an Austrian resort from 210 degree F geothermal water for more than six years. Similar units have been in continuous operation in Nevada and Thailand since the 1980s.

Geopressurized zones are natural underground formations that are under unusually high pressure for their depth. These areas are formed by layers of clay that are deposited and compacted very quickly on top of more porous, absorbent material such as sand or silt. Water and natural gas that is present in this clay is squeezed out by the rapid compression of the clay, and enters the more porous sand or silt deposits. This natural gas, due to the compression of the clay, is deposited in this sand or silt under very high pressure (hence the term ‘geopressure’). In addition to having these properties, geopressurized zones are typically located at great depths, usually 10,000-25,000 feet below the surface of the earth. The combination of all of these factors makes the extraction of natural gas in geopressurized zones quite complicated. However, of all of the unconventional sources of natural gas, geopressurized zones are estimated to hold the greatest amount of gas.

Is the science concerned with understanding the form of the Earth’s land surface and the processes by which it is shaped, both at the present day as well as in the past