Israel Looks Offshore for Oil, Gas

Ad Feedback—JERUSALEM—Israel's government may soon issue up to twenty more licenses for companies to drill for oil and gas in Israel's coastal waters. The nation's Crude Oil Council recommended the licensing Thursday after the confirmation several weeks ago of a large natural gas find in waters near the port of Haifa.

Previously, oil and gas drilling took place in only 10 percent of Israeli coastal waters.  Under the new recommendations, companies would search in 54 percent of the offshore areas.  The council also supports granting a license to Negev Oil and Shale to produce shale oil in the southern Negev Desert.

All licenses are subject to approval by Israel's National Infrastructures Ministry.

Source:  The Jerusalem Post

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