Israel Hopes to Revive Yonah Structure

During a roadshow in London and Singapore attended by energy companies' executives, analysts and economic media, Yuval Steinitz, the Israeli energy minister, pointed out that a new survey shows good discovery potential at Yonah, a structure found in the Mira licence, The Marker, a daily, reported. According to Steinitz Yonah site has the same structure as Zohr's, the Egyptian huge gas field discovered last year by Italian Eni.

Four years ago a failed exploration drill was carried out at the site following 'lost circulation', a phenomenon that might indicate that the cavities under the upper part of the structure hold no gas. Another exploration drill was carried out in Sara licence near by, and it was found to be dry. Following those two failed explorations drills the exploration activity was stopped.

Since then the Mira licence has been returned to the state and it will be auctioned in the coming licensing round expected to go out in November.

The meetings in London and Singapore were attended by executives from energy companies such as Eni, Woodside, Edison, BP, Santos, Indian Oil and other smaller companies, according to energy ministry. The atmosphere at the talks was positive she said. The delegation included the energy ministry chief geologist who presented the survey with forecast for potential discoveries of over 2,000bn m³ in the eastern Mediterranean. Israel is set to auction 24 blocks.

Ya'acov Zalel