Eastern Mediterranean

Noble Energy has been operating in the Mediterranean Sea, offshore Israel, since 1998. We have a 47 percent interest in the Mari-B field, 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 approximately 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 19 Tcf of natural gas. We are actively progressing multiple export options, including both LNG and pipeline scenarios, as well as a potential domestic development solution. The farm-in of Woodside in early 2014 to Leviathan brings advanced LNG and marketing experience to future development. Noble Energy will hold 30 percent of Leviathan following farm-in and anticipates an initial phase investment decision in 2014.

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 drilling additional Cyprus gas potential on Block 12 and a deep oil test in the Levant Basin, with multiple similar prospects identified on our acreage.