Chevron (CML) and the owner of the rights in the Tamar natural gas reservoir, announced today a final investment decision (FID) in the first phase of a two-phase project to expand production capacity from the reservoir.
“The decision to invest in the first phase in the expansion of Tamar reflects Chevron’s ongoing commitment to support the strategy of the State of Israel to develop its energy sources for the benefit of the local and regional gas markets” he said Jeff Ewing, Chevron Eastern Mediterranean Manager. “Upon completion, the project will enable us to meet the growing domestic demand for natural gas, increase our ability to supply natural gas to neighboring countries and meet the world’s growing need for more reliable and cleaner energy.”
The first phase of the Tamar expansion, for which the current investment decision was made, will include the laying of a 150-kilometer transmission pipeline, from the Tamar field, located approximately 90 kilometers west of Haifa, to the Tamar rig. In addition, the rig will undergo adjustments to be able to support the supply of up to 1.2 bcf/d of natural gas. Completion of the first phase of the Tamar expansion works is planned for early 2025.
The second phase of the expansion will be anchored by a gas contract with a customer in the Egyptian market and transmission agreements through improved transmission infrastructures between Israel and Egypt.
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An investment decision for the second phase of the project will be made after weighing additional components, including regulatory approvals, including export approval from the Ministry of Energy. Completion of this phase of the project is planned for the second half of 2025.
With the completion of the two expansion phases, production from the Tamar field is expected to be about 1.6 bcf/d.
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