Hi John and Doves,
Doesn't this just say it all?? Notice the proposed date of
production - 2013!!
Israeli Shefela oil shale is on land. The natural gas is under the water
the former chief scientists of Royal Dutch Shell, has devised
an ambitious plan that would, if successful, turn Israel into one of
the world’s leading oil producers. Now chief scientist for Israel
Energy Initiatives (IEI), Vinegar maintains that the 238 sq km Shefela
Basin holds the world’s second largest shale deposits outside the
United States, from which around 250 billion barrels of oil – about the
same as Saudi Arabia’s proven reserves, could be extractable. IEI
estimates the marginal cost of production at between US$35 and US$40
per barrel. That, says Vinegar, would be cheaper than the US$60 or so
per barrel it would cost to extract crude oil in more hospitable
locations such as the Arctic, and even favorably with the US$30-US$40
in Brazilian deepwater.
Basin could have 122 trillion cubic feet of natural gas
by the American telecom giant IDT Corp, anticipates starting
commercial production by 2020, producing 50,000 barrels a day
initially. While that figure is a fraction of the 270,000 barrels per
day Israel currently consumes, Vinegar maintains it is a further key
step toward achieving energy independence. Vinegar proposes thermal
recovery for Israeli shale oil.
natural gas discovery will supply the Israeli domestic market for
decades. Currently appraised at 8.4 trillion cubic feet (Tcf) Tamar is
expected to deliver its first sales in 2013.
the north-west of Tamar, Leviathan holds around a further 16 Tcf,
almost all of which could be slated purely for export. According to
businessman Yitzhak Tshuva, part owner of Leviathan, its gas too will
be ready for production by 2013, well ahead of schedule. But even at a
combined total of 25 Tcf, Tamar and Leviathan only represent around a
fifth of the 122 Tcf the US Geological Survey estimates lies in the
Levantine Basin, much of which falls within Israeli jurisdiction.