Project Profile
Value: Undisclosed
Location: 30 kms west of Hadera
Reserves: 208 million barrels of oil in unrisked gross prospective resources and 3.4 trillion cubic feet (TCF) of natural gas
Area: unknown
Depth: water depth of 500-1,000 metres
Start-up Year: -
Yam Hadera offshore prospect has a best estimate of 208 million barrels of oil in unrisked gross prospective resources, and 3.4 trillion cubic feet (TCF) of natural gas. The oil estimate is 57% more than in previous estimate of 133 million barrels of oil, and the gas estimate is 146% higher. The geologic probability of success is 25-29% for the oil prospect and 17-29% for the gas. The estimates were prepared by Netherland Sewell & Associates Ltd. (NSAI), based on a 3D seismic survey of a 250-sq km area of the prospect\'s northern closure. Modiin Energy wholly owns the rights to the 400-sq km Yam Hadera licence, located 30 kms west of Hadera. The water depth in the licence area is 500-1,000 metres. Modiin is controlled by IDB Holding Corp and Tzahi Sultan.
Operators:
Modiin Energy: Operator with 100% interest
Contractors:
Netherland Sewell & Associates Ltd. (NSAI): Reserves estimation contract