The Ishai feild, located about 160km off Isreal’s coast, is the first of five Pelagic licenses to be drilled and it is estimated to hold 3.7 tillion cubic feet of gas and the drilling has up to a 76.7% chance of geological success.
Exploration companies have discovered large deposits of natural gas in the Eastern Mediterranean in recent years, reports Reuters.
The Pelagic feilds is to near to the Tamar and Leviathan fields, two of the world’s largest offshore discoveries of the past decades.
Israel Opportunity has a 10% stake in the Pelagic licenses and it also stated that the Aphrodite 2 well to be drilled next month has a target depth of 6,000m.
