ATP Oil & Gas is eyeing a floating liquefaction semi-submersible as a development option for its Shimshon prospect off Israel.
The US independent is keen to firm up a reserves estimate of 2.5 trillion to 3.4 trillion cubic feet of gas at the play, which “could potentially double the size of the company”, according to chief financial officer Al Reese.
The company will spend between $3 million and $5 million this year on seismic data along with legal documentation in order to begin drilling on Shimshon during the second quarter of 2012, he said.
ATP
