Our significant world-class discoveries in the Eastern Mediterranean provide an exceptional opportunity to deliver energy security and economic development for Israel and Cyprus. And – through exports – to the region.
Noble Energy was the first operator to discover natural gas resources offshore both Israel and Cyprus. Since we began operating in the Eastern Mediterranean region in 1998, we drilled 11 successful exploration and appraisal wells and discovered more than 40 Tcf of natural gas resources in the Levant Basin.
We also successfully and efficiently moved from discovery to execution of large-scale projects. Just four years after discovery, we delivered the first supply of domestic natural gas to Israel from the Mari-B field in 2004. Just 2.5 years from sanction, we brought the 10 Tcf Tamar field online in 2013.
Natural gas sales in Israel set a record in August 2015 as the Tamar platform averaged more than 1 billion cubic feed of natural gas per day, gross, for the month. With nearly 100 percent uptime, our Tamar platform is providing a clean, reliable source of fuel to generate more than half of Israel's electricity. Israel Electric Corporation cited the use of natural gas as the main factor in reducing electricity prices.
Approximately 40 percent of Israel's discovered natural gas resources are exportable. The Government of Israel finalized and approved a comprehensive regulatory framework that supports further investment in the country's hydrocarbon resources. When the Government follows through on this framework, the company can move forward with the process of making Final Investment Decisions (FID) on the expansion of Tamar and development of the 22 Tcf Leviathan field.
We are also working with the Government of the Republic of Cyprus to progress development of Aphrodite – the country's first offshore natural gas discovery. We filed a Declaration of Commerciality and preliminary Field Development Plan for development of the Aphrodite field. These are important steps for reaching FID.
For the latest Eastern Mediterranean news, see the most recent presentation on the Investor Events page.