The Leviathan reservoir is one of the world’s largest deep-water gas discoveries of the last decade, and the largest natural gas reservoir in the Levant basin.
It was discovered in 2010 after Ratio, as the prospect generator, farmed in Delek and Noble Energy, and had turned out to be one of the most significant discoveries in the world and a great promise to the state of Israel energy independence.
Leviathan contingent resources & reserves total 21.4 TCF of natural gas and almost 39 MMBBL of condensate .
In early 2017 Ratio and the Leviathan partners announced that they have sanctioned the first phase development of the Leviathan natural gas project, with first gas targeted for the end of 2019. Development of the Leviathan reservoir is expected to be the largest infrastructure project ever performed in Israel.
Leviathan will provide a second source of natural gas for Israel through a dedicated tie-in located in northern Israel, and will become the largest exporter of natural gas to neighboring countries in the Middle East and Europe.
Leviathan’s initial development plan includes four subsea wells, each capable of flowing more than 300 million cubic feet per day (MMcf/d) of natural gas. Production will be gathered at the field and delivered via two 115 km flowlines to a fixed platform, with full processing capabilities of 1.2 billion cubic feet per day (Bcf/d), located approximately 10 km offshore. The Leviathan platform will have an initial deck weight of 22,000 tons. Processed gas will connect to the Israel Natural Gas Lines Ltd. onshore transmission network in the northern part of the country, and to regional markets via onshore export pipelines. The approved development plan allows for significant future cost-effective expansion from its initial 1.2 billion cubic feet per day (Bcf/d) capacity to 2.1 Bcf/d.
Starting expected first gas production in 2019, Leviathan will become the most dominant producer of natural gas to the Israeli market and to the regional countries.
Israel’s natural gas market is expected to grow significantly in the next decade due to the reduction of the use of coal to produce electricity, the expansion of existing and new IPPs, and transformation of industrial facilities to the use of natural gas. As a result, several significant domestic GSPAs have been signed and others are due to be signed before production is expected.
Export marketing progress has resulted with the signing of 2significant GSPAs. The first GSPA was signed with the Jordanian National Electric Power Company (NEPCO) to supply natural gas at a volume of approximately 45 BCM for a period of 15 years. The second GSPA was signed with Dolphinus, an Egyptian company, to supply natural gas at a volume of approximately 32 BCM for a period of 10 years.
Underneath the Leviathan gas reservoir, prospective oil targets have been located at a depth of more than 7,000 meters below sea level, which could contain approximately 560 million barrels of oil with a geological probability of about 15 percent .
 The best estimate (2C+2P) according to an NSAI report of February 28, 2018.
 The best estimate of prospective resources, according to an NSAI report of March 13, 2013.