Project Profile
Value: Undisclosed
Location: Levant Basin, offshore Israel
Reserves: 2.3 trillion cubic feet of natural gas
Water Depth: 3,622 feet
During February 2011, ATP entered into agreements to acquire interests in the Shimshon deepwater license located in the Mediterranean Sea off the coast of Israel. In April 2012 ATP began drilling operations on its Shimshon well in the Levant Basin of offshore Israel with the Ensco 5006. The Shimshon well is in a water depth of 3,622 feet with a target depth of 14,764 feet. ATP plans to run a full set of electric logs at total depth to assist in evaluation of target reservoirs. The Shimshon well encountered more than 62 feet (19 metres) of natural gas pay in the Bet Guvrin sands. ATP East Med operates with a 40% working interest. Other interest owners in the well are Isramco Negev 2 LP (39%), Naphtha Exploration Limited Partnership (10%), INOC Dead Sea LP (10%) and I.O.C.-Israel (1%). The estimated cost of the production tests and preparation work of the Shimshon 1 exploratory well for future production, assuming there is a gas discovery, is US$33.7 million. The Shimshon prospect has an estimated 2.3 trillion cubic feet of natural gas with a probability of success of 20%.
Operators:
ATP East Med: Operator with 40% interest
Naphtha Exploration Limited Partnership: 10% interest
Isramco Negev 2 LP: 39% interest
INOC Dead Sea LP: 10% interest
I.O.C.-Israel: 1% interest