Partners in the Leviathan project offshore Israel have adopted the final investment decision for the first phase of the development plan.
The phase 1A in the development plan for the Leviathan reservoir is expected to cost around $3.75 billion.
Noble Energy operates Leviathan with 39.66% stake. The partners are Avner Oil Exploration (22.67%), Delek Drilling, (15.00%), and Ratio Oil Exploration ( 25.65%).
The Israeli Government approved the Leviathan POD, which involves a subsea system that connects production wells to a fixed platform located offshore with tie-in onshore in the northern part of Israel.
The first gas is targeted for the end of 2019.