In the Middle East, the US oil producer Noble Energy is best known for its large Tamar gas discovery in deep water off the coast of Israel.
Yesterday in New York, its share price rose 4 per cent in early trading on the NASDAQ Stock Exchange to US$67.24 after the company said its next big gas prospect in Israeli waters might also contain billions of barrels of oil.
It is highly unusual for an oil company to announce estimates, in specific terms, of oil and gas that it has not yet found.
But Noble has said the Israeli consortium it heads has a 50 per cent chance of finding a huge 16 trillion cubic feet of gas at the Leviathan prospect in the eastern Mediterranean, a 17 per cent chance of finding 3 billion barrels of oil, and an 8 per cent chance of finding another 1.2 billion barrels of oil.
So is this just bravado, or should the company's odd calculations be believed?
As it turns out, Noble is an unusual company in more ways than one. For a start, it is playing technologically challenging games in arenas frequented mostly by the world's biggest international oil companies, such as ExxonMobil, Royal Dutch Shell and BP.
Noble is not nearly as big as these companies, yet it is drilling difficult deep exploration prospects in the Gulf of Mexico and off Africa's west coast, not to mention off Israel.
Noble has also ventured into the US shale gas game, in which success depends on mastery of advanced drilling technology.
It has recently bought oil exploration prospects in Colorado, in an area that some expect to yield North America's next big unconventional oil discoveries.
So far, Noble's exploration efforts have yielded impressive results. The company has added reserves of nearly 1 billion barrels of oil equivalent through exploration in the past five years.
That means its current adventure should not be dismissed as hyperbole.
tcarlisle@thenational.ae
A MAN FROM MOTIHARI
Author: Abdullah Khan
Publisher: Penguin Random House
Pages: 304
Available: Now
LA LIGA FIXTURES
Friday Athletic Bilbao v Celta Vigo (Kick-off midnight UAE)
Saturday Levante v Getafe (5pm), Sevilla v Real Madrid (7.15pm), Atletico Madrid v Real Valladolid (9.30pm), Cadiz v Barcelona (midnight)
Sunday Granada v Huesca (5pm), Osasuna v Real Betis (7.15pm), Villarreal v Elche (9.30pm), Alaves v Real Sociedad (midnight)
Monday Eibar v Valencia (midnight)
Yahya Al Ghassani's bio
Date of birth: April 18, 1998
Playing position: Winger
Clubs: 2015-2017 – Al Ahli Dubai; March-June 2018 – Paris FC; August – Al Wahda
COMPANY PROFILE
Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends
SPECS: Polestar 3
Engine: Long-range dual motor with 400V battery
Power: 360kW / 483bhp
Torque: 840Nm
Transmission: Single-speed automatic
Max touring range: 628km
0-100km/h: 4.7sec
Top speed: 210kph
Price: From Dh360,000
On sale: September
ROUTE TO TITLE
Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2
Sri Lanka-India Test series schedule
- 1st Test India won by 304 runs at Galle
- 2nd Test Thursday-Monday at Colombo
- 3rd Test August 12-16 at Pallekele
Juliot Vinolia’s checklist for adopting alternate-day fasting
- Don’t do it more than once in three days
- Don’t go under 700 calories on fasting days
- Ensure there is sufficient water intake, as the body can go in dehydration mode
- Ensure there is enough roughage (fibre) in the food on fasting days as well
- Do not binge on processed or fatty foods on non-fasting days
- Complement fasting with plant-based foods, fruits, vegetables, seafood. Cut out processed meats and processed carbohydrates
- Manage your sleep
- People with existing gastric or mental health issues should avoid fasting
- Do not fast for prolonged periods without supervision by a qualified expert
'Saand Ki Aankh'
Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars