Oil could provide all of Israel’s oil needs; Afek Oil and Gas to continue drilling
A large oil deposit was discovered in the Golan Heights this week. Following three drillings in the southern Golan Heights, the amount of oil could reportedly provide all of Israel’s oil needs.
The drilling was carried out by the subsidiary of American company Genie Energy who requested to begin to drill in August.
According to geologist Dr. Yuval Bartov of Afek Oil and Gas, “a strata which is 350 meters thick and what is important is the thickness and the porosity. On average in the world strata are 20-30 meters thick, so this is ten times as large as that, so we are talking about significant quantities. The important thing is to know the oil is in the rock and that’s what we now know… There is enormous excitement. It’s a fantastic feeling. We came here thinking maybe yes or maybe no and now things are really happening.”
Israel consumers 270,000 barrels of oil per day.