Partners in Israel's Leviathan natural gas field said on Nov. 3 that the project's first development stage will include a capacity of 12 billion cubic meters (Bcm) per year of natural gas.
Later stages could include an additional 9 Bcm of gas per year, and partners estimate positive cash flow and royalties from the field to begin in 2020.
Partners include Texas-based Noble Energy Inc. (NYSE: NBL) with a 39.66% stake; Israel's Avner Oil and Delek Drilling, each with a 22.67% stake; and Ratio Oil with the remaining 15% stake.
An Israeli statement to the Tel Aviv Stock Exchange included a report by U.S. consultancy Netherland, Sewell and Associates.
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