Sea Discovery


Daewoo to Develop Tamar Gas Field


South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd reportedly has agreed to develop Israel's Tamar natural gas field with Noble Energy Inc.
Under the deal, Daewoo will soon conduct an LNG-FPSO feasibility study, aiming to sign a final agreement by the end of next year.
The Tamar field is located in a sea area about 80 kilometers west of the port of Haifa.

Daewoo Shipbuilding was on the verge of signing a multi-billion dollar 15 year contract to build and operate a floating liquefied natural gas terminal (FLNG), which will enable natural gas exports from the reservoir. The gas produced from the well will be cooled to minus 160 degrees Celsius for transport in liquefied gas tankers to South Korea. The price of natural gas in Korea is 2-3 times higher than in Israel.
Israel has significant reserves of 2.8 trillion cubic meters in its offshore areas


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