Israel awards the 1st drilling license for oil in Golan Heights

A New Jersey-based company is the 1st to receive a license to drill for oil covering half the length of the Golan Heights.

By GLOBES & JPOST.COM STAFF

 

Israel awarded the first license to drill for oil on the Golan Heights, local media reported Thursday. A New Jersey-based company was awarded the license, covering half the area of the Golan from the latitude of Katzrin in the north to Tzemach in the south.
The Golan Heights

The Golan Heights – Photo: Seth J. Frantzman

Sources informed ”Globes” that, a few days ago, the Ministry of Energy and Water Resources’ Petroleum Council recommended awarding the license to Genie Energy Ltd., headed by former minister Effie Eitam. Shareholders include chairman Howard Jonas, Lord Jacob Rothschild, and Rupert Murdoch. Former US Vice President Dick Cheney is an adviser.

The process of granting the license began following geological tests, which indicated a large potential oil discovery in the southern Golan Heights. On the basis of the findings, last summer, Minister of Energy and Water Resources Uzi Landau declared the Golan as open for oil and gas exploration and production activity. Following the announcement, two license applications were filed with the Petroleum Commissioner for the southern Golan, an area of thousands of hectares.

JTA contributed to this report.

View original Jerusalem Post publication at: http://www.jpost.com/Sci-Tech/Article.aspx?id=304151

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