Eastern Mediterranean

Noble Energy has been operating in the Mediterranean Sea, offshore Israel, since 1998. Our track record of success in the region began with Mari-B, the first offshore natural gas production facility in Israel. Production from Mari-B began in 2004 and sales volumes increased as Israel's power demand and pipeline infrastructure have expanded tremendously. A string of successful exploration wells offshore Israel and Cyprus has resulted in the discovery of more than 40 Tcf of new gas resources for this region. Sales from Tamar began in March 2013, just over four years from discovery.

We have a 36 percent operated working interest at Tamar, with gross mean resources of 10 trillion cubic feet (Tcf) of natural gas. Tamar was the largest deepwater natural gas discovery in the world in 2009. Deliverability of natural gas into Israel is being expanded to meet growing Israeli demand through an onshore compression project and the tie-in of the recent Tamar Southwest discovery.

Leviathan represents the largest exploration success in Noble Energy's history, with gross mean resources of 22 Tcf of natural gas. We are pursuing regional export opportunities for both Tamar and Leviathan and have recently announced Letters of Intent for approximately 8 Tcf of resources to LNG facilities in Egypt, as well as to Jordan for power generation. We are actively progressing multiple export options, including both LNG and pipeline scenarios, as well as a potential domestic development solution.

In late 2011, we announced a discovery offshore Cyprus with estimated gross mean resources of 5 Tcf, and are currently studying options for development. In 2015, we anticipate a deep oil test in the Levant Basin, with multiple similar prospects identified on our acreage.

When Leviathan commences production in late 2017/ early 2018, our total deliverability is anticipated to be more than 3.5 Bcf per day (2 Bcf/d from Tamar and 1.6 Bcf/d from Leviathan).