Soviet built pipeline system connecting Central Asia and Russia. These pipelines known as the CAC system handle for instance more than 85% of Turkmenistan’s total gas exports. Turkmenistan is looking to establish new export routes for its natural gas
Alcohol fuels are made from renewable resources like locally grown crops and even waste products such as waste paper or grass and tree trimmings. Methanol and ethanol are two types of alcohol fuels used in cars. Ethanol can be produced from a variety of renewable resources, most commonly corn and sugarcane. Methanol can be made from renewable resources also, but today, methanol is primarily made from natural gas. Alcohol fuels burn cleaner than regular gasoline and produce less carbon monoxide. Alcohol fuels have high octane.
Workover is a term used to describe operations on a completed production well to clean, repair and maintain the well for the purposes of increasing or restoring production. > > > >
Belgian Port. The terminus point of The European Interconnector, a gas line linking the UK to continental Europe, and thus a major European gas delivery hub
Concept needs to be negotiated within the JOA, but in general includes intentional, conscious or reckless (but not generally negligent) acts. Negotiations will focus on whether or not, or to what extent prudence, foresight and prevention must be applied
Company that was established by the partners in the Yam Tethys project to receive a transmission license from the Mari production platform located offshore Ashkelon via a pipeline directly to Ashdod. Yam Tethys laid a 42 km pipeline from the production platform to the receiving terminal in Ashdod with the work completed at the end of 2003, with a capacity for up to 6 bcm per annum.
Partners in the company include Noble Energy (47.058%), Delek Drilling 25.5%), Avner (23%) and Delek Investment (4.441%). Yam Tethys has two proven reserves, the Noa reserve and the Mari reserve.
The total Yam Tethys contracts include: a contract signed with IEC in June 2002 for 18 bcm of gas which started to flow in February 2004 at $2.47 mmbtu; a contract with Oil Refineries signed in September 2004 with supplies started to flow in November 2005 for 1.3 bcm at $2.50 mmbtu; a contract signed in July 2005 with the Hader Paper Plant for 0.43 bcm of gas which started to flow in August 2007 at $2.50 mmbtu; a contract with the Delek IPP in Ashkelon signed in August 2005 and with supplies that started to flow in August 2007 to supply 1.8 bcm at $2.4 mmbtu; a spot contract signed in August 2006 with IEC at a price of above $5 mmbtu; a contract signed in March 2008 with IC which started to flow in October 2009 to supply a total of 2 bcm at $3.50 – $4.50 (oil linked price with floor & ceiling) and a contract signed on 23 July 2009 with IEC to supply 5 bcm of gas over 5 years at the flat price of $1 billion leading to a price of $5.45 mmbtu.
On 24th December, IEC signed a LOI with the Yam Tethys partners (Mari and Noa partners) according to which the parties would carry out negotiations. As part of a separate LOI, IEC expects to purchase natural gas from the Company and its partners to establish a strategic inventory reserve at Mari-B. The Mari-B partners would provide IEC with injection, storage and withdrawal capabilities for this inventory under a related service. On 24th December another LOI was signed between the partners in the Yam Tethys project and those in the Tamar project, according to which the strategic reserves of gas would be provided by the Tamar project, subordinate to the partners in both projects agreeing. The LOIs are not yet binding. IEC board of directors has ordered for the negotiations to conclude with a binding GSA within up to 6 months.
In March 2010, Yam Tethys stated that they are revising upward the estimated volume of gas at the Mary B drilling site. The new estimate is 7.5% higher than earlier estimates. Netherland, Sewell & Associates Inc., a Texas-based independent petroleum consultant, increased its estimate of the quantity of natural gas in the well by 1.89 billion cubic meters (66.7 billion cubic feet) to 27.52 billion cubic meters. The amount is about 1.9 billion cubic meters, valued at an estimated $340 million. The estimated value was based on the average price for the gas at Mary B in existing deals, namely $5 per million BTUs. NSAI estimates that the proved updated reserves of natural gas on the 31/12/09 are about 13.38 bcm and proved and probable of about 14 bcm.
Ginko Oil Exploration and Delek Energy have a license, the carveout Tzuk Tamrur over 16,500 dunams, to explore for oil in this area of the Judean Desert where they believe there could be 6.5 million barrels of oil. Zerah was established in 2006 as a subsidiary of Ginko Oil Exploration Ltd. Zerah License (Ginko group and its partners Delek and Avner) received permission from the Israel Nature and Parks authority to start drilling at the Tzuk Tamrur 4 site at the beginning of October. The td of the drilling is planned for 2 km at an estimated cost of $4-5 million. The Zerah license covers an area of 400 sq km north of the Dead Sea. Drilling started on the 30th November 2009. The partners in the Tzuk Tamrur 4 license are Zerach (50%), Avner (25%) that are the operator and Delek 25%. On the 31st Jan 2010 Zuk Tamrur 4 partners (Zerach 50%, Avner and Delek 25% each) have decided to move to the stage of carrying out production testing at the site after the electric logs were found to be positive. Avner, the operator of the Tzuk Tamrur 4 has informed its partners that they have reached a td of 2,103 meters and will now carry out production testing at two different layers at the Ra’af and Gvanim. Production testing will take about a month and will cost $1.8 million
OPEC’s World Oil Outlook (WOO) says that the low oil prices of the 1980s and 1990s have had a dramatic impact on the oil industry because such low prices discouraged investment. As a result, at the beginning of this century, the world was caught unprepared for the surge in demand when faced with above-trend global economic growth. OPEC assumes annual growth of 1.7% amounting to a 50% rise in worldwide energy demand during 2006-30. This is based on world economic growth averaging 3.5% year and assuming no significant changes in policies and technologies.
