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GIVO.L - Meged Oil Field Development - Israel - Project Profile

Synopsis
"GIVO.L - Meged Oil Field Development - Israel - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "GIVO.L - Meged Oil Field Development - Israel - Project Profile" is part of Timetric's database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Summary
Givot Olam Oil Exploration LP (GIVO.L) is planning to construct an oil field in Israel.

The project involves the construction of new production facilities in Meged Oil Field. It includes the construction of a new production plant, storage tanks, access roads and administrative buildings, the installation of drilling base, a production base, safety and security systems, the laying of pipelines, and drilling of 40 production wells.

SC Dafora Group SA has been appointed as the drilling contractor.

In 2009, GIVO.L started drilling work on Meged 5 well and in June 2011, started producing oil commercially with the capacity of 800 barrels per day (bpd).

In March 2012, GIVO.L signed a US$4.4 million three-year contract with Natural Gas for Israel Ltd (Gatal) for the sale of byproduct natural gas from the Meged 5 well.

In November 2012, GIVO.L received approval from Central Planning and Building Commission to drill wells Meged 6, 7, and 8, in accordance with the plan deposited.

In June 2013, drilling work at Meged 6 well commenced with a total depth of 4,754m and completed in February 2014.

In August 2016, test production started for Meged 6 well and ended in December 2016 to produce 45,000bpd. Based on the information received during the tests further activities were to be planned.

In April 2017, the oil production was completely discontinued from Meged 5 well as GIVO.L succeeded in producing only very small quantities of oil from it.

The next site to be drilled is Meged 8 with all infrastructure preparations for this site has been completed and the drilling rig has been mobilized to the site.

Scope
The project involves the development of new oil production facilities at Meged, 20km Northeast of Tel Aviv, between the cities of Rosh Haayin and Modiin in Israel.

The US$100 million project includes the following:

1. Construction of new production plants

2. Construction of storage tanks

3. Construction of administrative buildings

4. Construction of access roads

5. Installation of drilling base

6. Installation of production base

7. Installation of safety and security systems

8. Laying of pipelines

9. Drilling of 40 production wells

Reasons To Buy
- Gain insight into the project.
- Monitor the latest project developments.
- Identify key project contacts.

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GIVO.L - Meged Oil Field Development - Israel - Project Profile
Published By :Timetric
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