This is the largest reserve of natural gas ever to be discovered in Israel, and is three times bigger than that of the Yam Thetis consortium.
The company began drilling at the site 90 kilometers west of Haifa in October last year at a cost of $144.5 million. In a statement, the company said that it believes the estimated reserves of natural gas could increase as further data comes in.
Tamar is a joint venture between Isramco, which owns a 28.9 percent stake, US company Noble Energy (36%), Delek Drilling and Avner Oil and Dor Gas Exploration.
Drilling at the site will not be easy. The sea floor is 1,700 meters below the surface of the water and a thick stratum of salt lies under the sand. The drill at the Tamar 1 permit site reaches 5,000 meters below sea level.
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