In the Mediterranean, the Israeli partners in the Leviathan gas field approved a development plan that would involve installing subsea systems in 2017 and 2018. Leviathan is one of the world’s biggest offshore gas discoveries this decade and should supply Israel, Jordan and possibly Egypt and Turkey.
At the time of writing, the field operator, Noble Energy, was yet to formally make the final investment decision, but the Israeli partners had secured US$1.75 billion of financing from HSBC and JP Morgan. Delek Drilling and Avner Oil Exploration had secured the funding for their part of the first phase of development. The plan involves subsea structures and pipelines that link multiple gas wells, located in deep waters, to a fixed offshore processing platform that would be installed in shallow waters. There will be other pipelines linking the platform to an onshore terminal in northern Israel.