Chevron Mediterranean Limited, a subsidiary of the U.S.-based oil giant Chevron, has announced a scheduled maintenance date for its offshore gas production platform near Israel. The maintenance is set to take place on February 21, 2024, at Chevron's Tamar production platform. During this time, controlled release of natural gas will occur through the flare boom to ensure the safety of the maintenance operations.

Flaring, a standard safety practice in the industry, is utilized to relieve pressure and maintain the safe operation of equipment and facilities. Chevron emphasizes that flaring poses no environmental or health risks to the surrounding community.

This maintenance announcement follows Chevron's recent decision to invest $24 million in the second phase of the project aimed at increasing natural gas production from the Tamar field to approximately 1.6 billion cubic feet per day. This commitment reflects Chevron's ongoing partnership with the State of Israel to develop energy resources for both domestic and regional natural gas markets.

The second phase of the project, which includes the laying of a 150-kilometer pipeline from the Tamar field to the platform, is expected to be completed by 2025. These phases require a total investment of $673 million.

Additionally, a new sales agreement for gas exports to Egypt has been secured by Blue Ocean Energy for the Tamar gas field. Discovered in January 2009, the Tamar field was developed within four years to meet local demand after Egypt ceased natural gas supplies to Israel.

Situated 90 km west of Haifa and at a depth of 5,000 meters below sea level, the Tamar field covers an area of 100 km2 and comprises six production wells. These wells produce natural gas volumes ranging from 7.1 to 8.5 million m3/day each. The majority of natural gas processing occurs on the Tamar platform, located 24 km west of Ashkelon, supplying 70% of Israel's energy consumption needs for electricity generation, according to Chevron.

Amid the rekindled conflict between Israel and Palestine that commenced on October 7, 2023, during a major Jewish holiday, Chevron was compelled to temporarily shut down the Tamar platform. However, operations were resumed later on. While the impact of this situation on oil and gas prices is expected to be limited, there remains a concern regarding the potential escalation of the conflict into regional hostilities, given the rising death toll. Consequently, a two-state solution is widely viewed as the most viable path to achieving lasting peace in the region.