The Ministry of Energy and Infrastructure approved an updated development plan for the Leviathan off-shore natural gas reservoir in the Mediterranean on the way to expanding production.
This plan includes, among other things, performing additional drilling and upgrading the rig’s handling capabilities, and its implementation is expected to result in an initial increase of approximately 50% in the reservoir’s production capacity. The updated plan was reviewed in a process that took several months by the engineering and geological teams at the Natural Resources Administration with the assistance of an international consulting firm.
The results of this expansion, said the Ministry, will lead to increased state revenues, will enable the strengthening of ties with neighboring countries, and will “even constitute future potential for expanding Israel’s international ties with countries in the region.”