Large-scale natural gas and oil discoveries both in Israel and off its Mediterranean coast seem to be occurring with surprising frequency in recent years. On Sunday, an Israeli company announced the discovery of yet another commercially-viable gas and oil field just off the coast of the northern port city of Haifa.Israel Opportunity Energy Resources LP said its Pelagic license was estimated to contain 6.7 trillion cubic feet of natural gas and 1.4 billion barrels of oil."The quantity of gas discovered in the licenses, and the high probabilities, make it the third largest offshore discovery to date," company chairman Ronny Halman told the business newspaper Globes, adding, "This quantity guarantees Israel's energy future for decades, and makes it possible to export Israeli gas, and boost the state's revenues without worrying about gas reserves for domestic consumption."
Monday, June 4, 2012
Yet Another Oil/Gas Discovery Off Israeli Coast
It happened again - another "large-scale" natural gas and oil discovery for Israel.
Posted by Scott at Monday, June 04, 2012