Noble Energy Inc.  NBL -0.39% said Wednesday it found natural gas at the Karish prospect offshore Israel, about 20 miles northeast of the Tamar field in the Levant Basin.

Karish’s discovery well was drilled to 15,783 feet and encountered 184 feet of high-quality natural gas, the company said. The field is expected to hold about 1.8 trillion cubic feet of natural gas.

Karish is the fifth field in the basin with resources over 1 trillion cubic feet, and the seventh discovery for Noble and partners in the Levant Basin, the company said.

Tamar entered production last month, and it is estimated to provide 50% to 80% of Israel’s natural-gas needs for a decade.

With Karish and recent increases in resource estimates for Tamar and the even larger Leviathan field, the Levant Basin is estimated to hold 38 trillion cubic feet of natural gas, Noble said.

The rig that drilled the well on Karish will relocate to Cyprus, where it will start a new well next month, Noble said.

The eastern Mediterranean is a hot spot in oil and natural-gas exploration these days, with energy-dependent Israel wrestling with how to manage its gas riches.

Published by: www.blogs.marketwatch.com