Chevron Restarts Gas Production In Israel After Brief Halt During Iran’s Attack

Chevron has resumed natural gas production and supply from two platforms offshore Israel, where output was briefly suspended as a precaution due to the Iranian missile attack on Israel on Monday.

Iran yesterday fired more than 100 ballistic missiles into Israel after the United States warned Israel on Monday morning that an attack was imminent.

Oil prices jumped after news of the attack broke, amid concerns that oil and gas supply from the region could be affected in case of a wider conflict directly involving Iran, which sits close to the most important oil route in the world, the Strait of Hormuz.

“Chevron Mediterranean Limited (CML) can confirm that we have resumed production at both our Tamar and Leviathan facilities and are supplying natural gas to our customers in Israel and the region from both reservoirs,” the U.S. supermajor said in a statement carried by Russian news agency TASS.

“Any questions regarding the current security situation should be addressed to the appropriate Israeli governmental authorities,” Chevron added.

A year ago, Chevron also shut down the Tamar gas field after Hamas’s attack on Israel in early October 2023, which ignited the ongoing conflict in the region.

Chevron Mediterranean Limited operates Tamar and has a 25% stake in the field. At Tamar, six production wells produce volumes of natural gas ranging from 7.1 to 8.5 million cubic meters per day each.

Most of the natural gas processing takes place on the Tamar platform situated 24 kilometers (15 miles) west of Ashkelon. Tamar supplies 70% of Israel’s energy consumption needs for electricity generation, Chevron says.

Chevron has an interest in another gas field offshore Israel, the Leviathan gas field, the biggest energy project in Israel ever, after it bought Noble Energy.

The Leviathan gas reservoir was one of the world’s largest deep-water gas discoveries of 2000s and its development is the largest energy project in Israeli history.

The gas field is located deep in the Mediterranean Sea, 130 kilometers (81 miles) west of Haifa.

Source: Oilprice.com