The Israeli partners of Noble Energy Inc. (NBL) in the offshore Leviathan field on Wednesday distanced themselves from comments made by the U.S. company about its estimated oil potential.

Noble in a conference call with investors said it has increased its estimate to 1.5 billion barrels of oil in the field, with an additional 1.5 billion barrels of oil in a nearby Cyprus field it also controls with Israeli partners.

Noble's Israeli partners--Delek Drilling Ltd. Partnership (DEDR.L.TV), Ratio Oil Exploration Ltd. Partnership (RATI.L.TV), Avner Oil Exploration Ltd. Partnership (AVNR.L.TV) and Alon Natural Gas Exploration Ltd. (ALGS.TV)--said the new estimates weren't in accordance with Israeli reporting regulations.

The requirements about how energy companies can publish reserve estimates differ between the Tel Aviv Stock Exchange, which often has more stringent requirements than the U.S. Securities and Exchange Commission, under which Houston-based Noble reports.

"These estimates were not published in accordance with the partners or investors in the partners," the companies said in a joint statement. "The publication of these estimates is not in accordance with regulations."

The Leviathan field is estimated to contain about 19 trillion cubic feet of natural gas and, prior to Noble's recent statement, an unconfirmed amount of oil.

In 2010, Leviathan was the largest gas discovery in the world and has the potential to secure Israel 's gas needs for decades as well as to bring billions into state coffers from exports.

At 1300 GMT, shares of Delek Drilling were 0.15 shekels lower, or down 0.80%, at ILS18.55; Avner was down ILS0.034, or 1.05%, at ILS3.21; and shares of Alon were flat at ILS69.12, in a higher overall Tel Aviv market.
Ακολουθήστε το energia.gr στο Google News!Παρακολουθήστε τις εξελίξεις με την υπογραφη εγκυρότητας του energia.gr

Διαβάστε ακόμα