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Gas Opportunities Shaul Meridor Director General Ministry of - PowerPoint PPT Presentation

Oct 09, 2022 •306 likes •467 views

Israeli Gas Opportunities Shaul Meridor Director General Ministry of Energy Status of Exploration & Production Offshore Israel 10 gas fields were discovered - 2000 Karish Aphrodite/Ishai Recoverable gas reserves & Tanin

  1. Israeli Gas Opportunities Shaul Meridor Director General Ministry of Energy

  2. Status of Exploration & Production Offshore Israel  10 gas fields were discovered - 2000 Karish Aphrodite/Ishai  Recoverable gas reserves & Tanin Tamar resources estimation : Leviathan > 30 TCF of gas Tamar SW Dalit 50 MMBL of condensate  3 gas fields were developed Shimshon  Leviathan: first-gas in 2019 Noa Legend: Oil Field MariB Gas Field Pipelines Production Platform -100

  3. Israeli Regulation – Oil & Gas Ministry of National Ministry Ministry of Infrastructure, Energy of Finance Environmental Protection and Water Resources Ministry Petroleum National Gas Commissioner Authority Upstream Downstream • G&G and Environment • Safety & engineering • Safety & engineering

  4. Israel’s fiscal system - Oil & Gas • Royalties- 12.5% • Oil and gas profits levy - The levy will apply only after return of 150% on investment. - The levy is progressive - the rate increases with the increase in profits - The formula is of the R factor type:

  5. Profitability Small gas field- Large gas field- Low level of profitability High level of Profitability

  6. Gas Export  Government Natural Gas Policy • Securing supply of 540 BCM for domestic market • Quotas per reservoir (50%-100%) • Signed agreements in place, more in progress  Export Agreements • Signed : • Discussed : Egypt- 176 BCM Jordan - 47 BCM Turkey- 50-150 BCM 5 BCM Egypt-

  7. Export Options 1. Egypt 2. Jorden 3. Turkey Italy Turkey 4. Palestinian Cyprus Authority Greece 5. Europe Jordan Egypt

  8. Demand for Natural Gas in Israel by Sector ( 2014-2040 ) • Coal restrictions • Support of NG transmission • Subsidies for industrial customers • Long term planning IHS, 2016

  9. Offshore Bid Round • 24 exploration areas • Size- max. 400 Km 2 each  Incentives For Marginal Fields : Government pipeline from platforms to shore (continental shelf) http://www.energy-sea.gov.il

  10. Principals of the Competitive Process • Drill or drop – exploration license will be granted for 3+3 year period. • Encouraging competition – existing holders of Tamar & Leviathan excluded from the bid. http://www.energy-sea.gov.il

  11. Financial Requirements • Partnership's financial strength: - Total assets of 400 million $. - Shareholders' equity of 100 million $ - Guarantees: Deposit of 2.5 -10 million $. http://www.energy-sea.gov.il

  12. Professional Requirements Requirements from Operator : - Holding a minimum of 25% interest in the partnership. - Offshore E&P experience. http://www.energy-sea.gov.il

  13. Weights for Selecting Winners  Work Program (90%): • Commitment to drill during first 3 years • Commitment to conduct geophysical and geological surveys during first 3 years  Signature Bonus (5%)  General evaluation (5%): • Experience • Environmental performance • Holding in other rights in Israel

  14. Time table • 15.11.16 - Bidding procedure opens. • 15.2.16 - End of Q&A. • 21.4.17 - Bidding procedure ends. • 15.7.17 - Winners announcement. http://www.energy-sea.gov.il

  15. Thank you

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