Israel's Leviathan Gas Field 'Grows'

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JERUSALEM, Israel -- The Leviathan natural gas reserve contains at least 11 percent more than originally estimated, the project's controlling partners announced Wednesday.

After analyzing the results of exploratory drilling, the three companies partnering in the project said they underestimated the amount of natural gas in the undersea reserve by two trillion cubic feet (TCF), which could go up another five TCF before it's all said and done.

The partners -- Delek Drilling, Avner Oil Exploration and Ratio Oil Exploration -- also estimated 34 million barrels of condensate, used to produce a light crude oil called brent oil, could translate to 3.5 billion shekels.

The new figures raise the reserve's potential worth by an additional 5.5 billion shekels from the previous figures.

At the beginning of April, the Tamar field, with an estimated 250 billion cubic meters of natural gas, began its first deliveries to Israel. The larger Leviathan field should be delivering within a few years.

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