Noble Energy to commence Israeli offshore-drilling project this year

07/18/2013 | Bloomberg

Noble Energy later in the year will drill its offshore Leviathan well in Israel to four miles in hopes of striking up to 1.5 billion barrels of oil. "We believe there is potential for significant oil resources at this prospect and the basin," said Susan Cunningham, senior vice president of exploration and business innovation at Noble Energy. Several analysts believe that a major oil discovery would benefit Israel's government and companies based there.

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