Major Oil Find in Israel but Quality and Cost of Extraction Unknown

Luke 19:43 The days will come upon you when your enemies will build an embankment against you and encircle you and hem you in on every side.

Israel is surrounded by countries loaded with oil bearing land. To find a sufficient amount of oil could mean a huge boost for her young oil production industry.

A company drilling for oil on the Golan Heights, close to the country’s border with Syria , claims they have found a significant amount of oil reserves. What they found looks to be 10 times larger than the average oil field worldwide.  This could  boost support of domestic demand but the quality, quantity and the cost involved for extraction is not known at this time.

Three drilling sites on the Golan have uncovered what is potentially billions of barrels of oil, enough to fulfill the Israeli market’s 270,000-barrel-per-day consumption for a very long time.

Chief geologist of Afek Oil and Gas, Yuval Bartov, said, “It’s a fantastic feeling. We came here thinking maybe yes or maybe no and now things are really happening!”

Since Israel’s founding, companies have drilled 530 exploratory wells in search for oil, but few of them have turned up commercially viable product, the Times of Israel reported

This find, however is already shadowed by the concerns regarding the war in Syria and the cost involved to protect the oil fields, domestic concerns as to the legality of Israel’s right to Golan Heights, as well as an ongoing struggle with environmental groups concerned over the effects the drilling will have on the land and the wildlife found there.  

The main site is close to the small town of Katzrin, which lies northeast of the northern shore of the fabled Sea of Galilee and is home to a wide range of special plants and wild animals, including major nature reserves such as Gamla, home to Israel’s largest population of Griffon vultures.

One thought on “Major Oil Find in Israel but Quality and Cost of Extraction Unknown

Leave a Reply