The contract is for subsea installation services at the St. Malo Field in the Walker Ridge area of the U.S. Gulf of Mexico.
Rescinding a Dec. 17 injunction, the Jerusalem District Court said appellants had not provided sufficient evidence that Leviathan’s emissions, in its start-up phase, could prove dangerous.
On Dec. 17, the Jerusalem District Court, in a surprise decision, issued a temporary order that barred any gas emissions from Leviathan, effectively putting the project, which was due to come on line this month, on hold.
Research shows that the U.S. fails to meet the criteria of a swing producer unless improbable changes to production take place.
The 5.5 billion crowns (US$600.38 million) development aims to produce about 60 million barrels of oil equivalent at a break-even price of $28.50 per barrel, Aker BP said.
The government will later seek proposals from companies interested in a longer-term contract to market Guyanese crude, the statement said.
The field is expected to start production in 2022.
Sanctioning of the closely watched development in the U.S. Gulf of Mexico marks a milestone for the industry with use of 20,000 psi technologies.
Liza will be the first Guyanese crude grade produced and offered to the oil market.
The director general of Israel’s Energy Ministry sent a letter to officials at the three companies, saying development must not commence until agreement is reached between the governments of Israel and Cyprus.