Israel Oil and Gas Report Q4 2016

Date: September 14, 2016
Pages: 81
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: The recent approval of Israel's highly-contentious natural gas framework is fostering activity in the country's upstream sector. Israel has already announced plans to auction up to 24 new offshore blocks by the end of 2016, while the country's flagship Leviathan gas project is seeing progress with its development plan being approved in June. In light of these developments, we hold our view that a lasting regulatory stability and successful implementation of Israel's new gas framework will be crucial for the development of the country's prospective gas industry.

Latest Updates and Key Forecasts
  • On 22 May 2016, Israel's government approved the revised offshore gas plan, aiming to partially break up the offshore gas monopoly of Noble and Delek and establish a greater regulatory stability in the upstream sector. Importantly, a compromise has been found on the highly contentious 'stability clause', which is expected to foster exploration and development of major gas projects.
  • Israel is looking to auction up to 24 new offshore blocks by the end of 2016. Despite the resource potential, we see only marginal interest from companies with sufficient offshore knowledge and experience.
  • In August 2016, a Cypriot energy company Energean agreed to buy Israel's Tanin and Karish offshore gas fields from Delek for USD148.5mn. Within the six months from this date, Energean is expected to submit development plans for the two fields.
  • In June 2016, US-based Noble Energy received an approval from the Israeli authorities for its development plan for the Leviathan field. The development costs of phase one are estimated at USD3.5-4.0bn and the first production is slated for 2019.
  • As a part of Tamar field expansion, Delek and Noble expect to spud Tamar 8 well in Q4 2016. Total net expenses are valued at USD228mn. In the meantime, Noble has agreed to divest 3% of its working interest in Tamar field to the Israel-based Harel Group for USD369mn.
BMI Industry View
  Table: Headline Forecasts (Israel 2014-2020)
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
  Table: Fiscal Conditions in East Mediterranean
Upstream Projects
  Table: Key Upstream Projects In Israel
Upstream Production - Oil
Latest Updates
Structural Trends
  Table: Oil Production (Israel 2014-2019)
  Table: Oil Production (Israel 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Tamar Project Gas Sales Agreements
  Table: Letters Of Intent To Supply Leviathan Gas
  Table: Gas Production (Israel 2014-2019)
  Table: Gas Production (Israel 2020-2025)
Latest Updates
Structural Trends
  Table: Refining Capacity And Refined Products Production (Israel 2014-2019)
  Table: Refining Capacity And Refined Products Production (Israel 2020-2025)
Refined Fuel Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption* (Israel 2014-2019)
  Table: Refined Products Consumption* (Israel 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
  Table: Gas Consumption (Israel 2014-2019)
  Table: Gas Consumption (Israel 2020-2025)
Trade - Oil
Latest Updates
Structural Trends
Crude Oil Trade Outlook
  Table: Crude Oil Net Exports (Israel 2014-2020)
  Table: Crude Oil Net Exports (Israel 2020-2025)
Refined Fuels Trade Outlook
Latest Updates
Structural Trends
  Table: Refined Fuels Net Exports (Israel 2014-2019)
  Table: Refined Fuels Net Exports (Israel 2020-2025)
Trade - Gas (Pipeline And LNG)
Latest Updates
Structural Trends
  Table: Potential Leviathan Gas Deals
  Table: Leviathan Export Possibilities
  Table: Gas Net Exports (Israel 2014-2019)
  Table: Gas Net Exports (Israel 2020-2025)
Industry Risk Reward Index
Middle East - Oil & Gas Risk/Reward Index
  Table: Middle East Oil & Gas Risk/Reward Index
Upstream: Index Resilient In Lower Price Environment
  Table: Middle East Upstream Oil & Gas Risk/Reward Index
Downstream: Limited Opportunities
  Table: Middle East Downstream Oil & Gas Risk/Reward Index
Israel - Risk/Reward Index
Market Overview
Israel Energy Market Overview
Regulatory Structure
Fiscal Regime
  Table: Key Petroleum Taxes
Licensing Regime
Oil And Gas Infrastructure
Oil Refineries
  Table: Israel - Refineries
Oil Pipelines
  Table: 750km Of Pipelines
Oil Terminals
  Table: 37mn Cubic Metres Of Storage Capacity
Gas Storage
Gas Pipelines
Competitive Landscape
  Table: Key Players - Israeli Oil And Gas Sector
  Table: Key Downstream Players
Company Profile
Noble Energy
  Table: Major Upstream Assets In Israel
Regional Overview
Middle East Oil & Gas Regional Overview
Oil Production: Output On Upward Trajectory
Oil Consumption: Gas And Subsidy Reform Tempering Demand
  Table: Gasoline-95 Pump Price June 2015 & March 2016 (USD/Litre)
Refining Capacity: Mega Refineries To Outcompete
Gas Production: Upstream Focus Swaying To Gas
Gas Consumption: Industrial Growth And Power Drive Demand
  Table: Middle East Oil & Gas Production, Refining Capacity & Trade
  Table: Glossary Of Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Bmi's Oil & Gas Upstream Risk/Reward Index
  Table: Weighting
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