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Oil reserves found in Israel could change power structure in region
By Jack Minor
In a major development that could alter the entire situation in the Middle East, large oil reserves have been discovered in Israel while a second firm that believes the bible lists the location of oil fields started drilling last week.
The preliminary engineering report issued by Givot Olam Oil who is overseeing drilling at a site next to Rosh Ha’Ayin states “The amount of oil in place in Rosh Ha’Ayin plot is estimated at 1.525 billion barrels of oil.” The final report is scheduled to be released September 5.
A U.S. company, Zion Oil has been searching for oil in the region since 2006. Zion Oil says in its vision statement that it exists to “assist Israel in the restoration of the Land by finding and producing oil and gas – helping to make Israel politically and economically independent.”
John Brown, Zion Oil’s founder and chairman said he believes the Bible tells where the oil is located, stressing two passages regarding God’s blessings to biblical patriarch Jacob’s 12 sons.
• “Let Asher be blessed … and let him dip his foot in oil.” – Deuteronomy 33:24
• “Joseph is a fruitful bough by a well … blessings of heaven above, blessings of the deep that couches beneath shall be on the head of Joseph, and on the crown of the head.” – Genesis 49: 22-26
Brown believes the field is found near where the borders of the tribes of Asher and Joseph’s son Manasseh meet. The company currently holds two petroleum exploration licenses between Netanya in the south and Haifa in the north. The company began drilling the Ma’anit Joseph #3 well on Aug. 27.
Brown has said the discovery of oil would change the dynamics in the Middle East. “You have these Arab states that threaten boycotts and throw their oil weight around to get countries to pressure Israel, imagine if Israel becomes a huge oil producer. There will be no more placating anyone since they have the oil.”
The prospected finds come at a time when other natural resources are being discovered in Israel. Last month Noble Energy, which has been drilling for natural gas at three sites off the Haifa coast, raised its estimates for the “Tamar” field by 15 percent to 238 billion cubic meters of natural gas. The company announced it was planning to start exploration in another area off Israel’s’ coast following estimates of 16 trillion cubic feet in its Leviathan offshore prospect.
By Jack Minor
In a major development that could alter the entire situation in the Middle East, large oil reserves have been discovered in Israel while a second firm that believes the bible lists the location of oil fields started drilling last week.
The preliminary engineering report issued by Givot Olam Oil who is overseeing drilling at a site next to Rosh Ha’Ayin states “The amount of oil in place in Rosh Ha’Ayin plot is estimated at 1.525 billion barrels of oil.” The final report is scheduled to be released September 5.
A U.S. company, Zion Oil has been searching for oil in the region since 2006. Zion Oil says in its vision statement that it exists to “assist Israel in the restoration of the Land by finding and producing oil and gas – helping to make Israel politically and economically independent.”
John Brown, Zion Oil’s founder and chairman said he believes the Bible tells where the oil is located, stressing two passages regarding God’s blessings to biblical patriarch Jacob’s 12 sons.
• “Let Asher be blessed … and let him dip his foot in oil.” – Deuteronomy 33:24
• “Joseph is a fruitful bough by a well … blessings of heaven above, blessings of the deep that couches beneath shall be on the head of Joseph, and on the crown of the head.” – Genesis 49: 22-26
Brown believes the field is found near where the borders of the tribes of Asher and Joseph’s son Manasseh meet. The company currently holds two petroleum exploration licenses between Netanya in the south and Haifa in the north. The company began drilling the Ma’anit Joseph #3 well on Aug. 27.
Brown has said the discovery of oil would change the dynamics in the Middle East. “You have these Arab states that threaten boycotts and throw their oil weight around to get countries to pressure Israel, imagine if Israel becomes a huge oil producer. There will be no more placating anyone since they have the oil.”
The prospected finds come at a time when other natural resources are being discovered in Israel. Last month Noble Energy, which has been drilling for natural gas at three sites off the Haifa coast, raised its estimates for the “Tamar” field by 15 percent to 238 billion cubic meters of natural gas. The company announced it was planning to start exploration in another area off Israel’s’ coast following estimates of 16 trillion cubic feet in its Leviathan offshore prospect.