Israel I/16 Block Tanin Field
As per a Competent Persons Report (“CPR”) by DeGolyer and MacNaughton (“D&M” ). the Tanin Field contains 921 bcf gas 2P reserves plus 4.5 mmbls liquids 2P reserves. This represents a total of 171.7 mmboe 2P reserves.
The exact date will depend on a number of factors, particularly:
– the quantity of gas sale contracts secured by the Group by 2021 and the growth in gas sales subsequent to this date;
– the confirmed in-place volumes within the Karish field;
– the timing of exploration activities in and adjacent to the Leases and the results of these activities.
The Tanin field is an undeveloped asset in the Levantine Basin and is located north of Israel’s EEZ approximately 110km offshore Israel. The water depth is about 1,800m. Tanin is located approximately 40km from the Karish field.
Tanin forms a northern extension of the Leviathan field that is currently being developed by Noble, Delek and Ratio. The Tanin field was evaluated by Noble in 2011 using the discovery well “Tanin-1” which reached a total depth of 5,504m (TVDSS) in what is now referred to as the Tanin-A Block.
It discovered gas saturated Tamar A and B sands and proved up gas volumes in the connected Tanin B and Tanin C Blocks. Reservoir properties determined from log and side-wall core data indicate the sands are analogous to those discovered in the Tamar and Leviathan fields. The Tanin Lease contains, in addition to Blocks A, B and C, significant exploration potential (Blocks D, E and F in the Lease itself and other accumulations that may close outside the Lease area).
The field area is covered by the same 3D seismic data as the Karish field.
Within the Tanin Lease three additional structures at the Lower Miocene level have been identified from available 3D seismic data. Blocks A, B and C are interpreted to share a common gas water contact at between 5,070 and 5,095m (TVDSS).
The Tanin reservoir is shown in the Tanin-1 well to have similar good quality reservoir sands to those of the adjacent Tamar field (to the south) and Karish field (to the east), with high average porosity of approximately 22% and permeability of approximately 300mD. The reservoir pressure is approximately 610 bar and both temperature and pressure are normal for the reservoir’s depth. The Group has generated static and dynamic models to enable future development planning at Tanin.
DeColyer & MacNaughton CPR (November 2020) certified another 10.7 bcm of gas plus 2.3 mmbls of light hydrocarbon liquids prospective resources. Also, another 10.3 bcm of gas plus 2.2 mmbls of light hydrocarbon liquids prospective resources are shared with Energean’s Block 12.