Project Profile
Location: 60 km off the coast of Israel
Water depth: 1,400 m
The Sara prospect is located 37 miles (60 kilometres) off the coast of Israel, in approximately 4,593 feet (1,400 metres) of water.
GeoGlobal is the operator and owns 5 percent of Sara, ILDC Energy and its affiliates own 41.6 percent, and its parent company Israel Land Development Company owns 5 percent. Modiin Energy LP, controlled by Tzahi Sultan and Nochi Danker\'\'s IDB Holding Corp. , owns 29.2 percent, IDB directly owns 5.6 percent, and IPC Oil and Gas Holdings owns 13.6 percent.
GeoGlobal Resources spudded on September 20, 2012, the Sara-1 well, using the Noble Homer Ferrington (DW semi-sub). The well was drilled vertically to 3,928 metres TVDSS. Sara-1 encountered 98 m of high quality reservoir sands which were wet with no commercial quantities of hydrocarbons.
Operators:
GeoGlobal: Operator with 5% interest
ILDC Energy: 41.6% interest
Modiin Energy LP: 29.2% interest
IDB Holding: 5.6% interest
IPC Oil and Gas Holdings Ltd. (IPC): 13.6% interest
Israel Land Development Company: 5% interest
Contractors:
Noble Drilling: Drilling contractor