It isn’t often that an oil and gas outfit places inspiration from the Bible on its website . Then again Zion Oil and Gas does what it says on the tin, it has a commitment to producing oil to make Israel independent regarding its energy needs. It is no great surprise, but still a little out of the mainstream because this is an American company.
They got the licences to explore and now have another year to make good on all the effort.
All the prep, geological and geophysical work, might now have paid off. They claim there are many challenges to drilling in Israel that are not presented elsewhere. Mainly the country has not fully embraced the concept and is understandably cautious as to who does what and where inside their borders.
One to watch for the future. The company talks freely about offshore exploration as well and if there is sufficient found then the investment would certainly follow to develop both oil and gas production. Let us be honest the Leviathan gas field and the reserves estimated in oil there is plenty of reason for hope of a big find. Of course there are many challenges not least of which is the extreme depth that the resources are located.
The conflict in the Niger Delta continues with groups not acknowledging the supposed truce. Reuters are reporting a pipeline has been attacked in Lasukugbene, Bayelsa state.
No-one has claimed responsibility for the action so far however the usual suspects, the Niger Delta Avengers, have the most recent history of such action. Some substance can be attributed to this as their spokespeople have said they cannot recall the truce that was arranged in late June.
Operators Nigerian Agip Oil Company, a subsidiary of the Italian Eni corporation have made no comment. Oil production is now down to a 30 year low in the region because of the ongoing dispute between oil companies, Nigerian government and the ethnic people of the Delta.
Early reports that the Tambar field is being given another 6 years of life. Located in the southern Norwegian area it is one of three fields making up the UGT area. First discovered in 1983 the Ula field along with the Gyda field make up the rest of the area.
Tambar came online in 2001 and has a large confirmed oil supply which is processed in Teeside, UK. Operators are Dong Norge and BP. Source: Energy Voice. Click here