USGS Says Israel Has 1.7 Billion Barrels of Oil

April 12, 2010

The United States Geological Service released a report last week on Israel’s Levant Basin, stating that the area contains 1.689 billion barrels of undiscovered oil and 122.4 trillion cubic feet of undiscovered natural gas. 

The Levant Basin lies both onshore and offshore and includes most of middle and northern Israel and coastal Lebanon and Syria. The basin includes the exploration areas of Noble Energy offshore and Zion Oil & Gas onshore.

Although the USGS released its report just last week, most of the data it contained came from research conducted between 2000 and 2008 by Dr. Michael Gardosh, a researcher at the Geophysical Institute of Israel, and Dr. Yehezkel Druckman, who until a few years ago was Petroleum Israel’s Commissioner. Dr. Druckman now serves on the Zion Oil & Gas Board of Directors.

Bron: www.oilinisrael.net