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Friday, January 30, 2009

Israel to expand gas exploration after major find

TEL AVIV Ñ Israel plans to expand its search for natural gas in the Mediterranean.   

An U.S.-Israeli exploration group, reporting a major gas find, said it would drill two more wells in the Mediterranean Sea.

The group, led by Noble Energy, said efforts would begin to drill Dalit-1 and Tamar-2 following current production tests on Tamar-1.

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Dalit-1 is located 60 kilometers off the northern Israeli coastal city of Hadera.

Executives said the Dalit-1 drilling project would last two months and cost $50 million. Tamar-2 was expected to last three months and cost $75 million.

"The aim of the Tamar-2 drill is to better determine the reserves of the Tamar site," Delek said.



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