A new oil and gas field has been found just 50 kilometers off the shores of Tel Aviv, Globes reported today.

Its estimated that the “Oz” field has between 93 to 607 million barrels of oil, and 2.5 trillion cubic feet (TCF) of gas. The Oz license covers a 400 square kilometer area.

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The Leviathan field has 19 TCF of gas, and the Tamar has 9 TFC. Israel has found around 30 TCF of gas so far.

According to Israel’s Ministry of National infrastructure, Energy and Water Resources, Israel consumes between 5-8 billion cubic meters (not feet) of gas per year.

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11 COMMENTS

  1. I love you Israel and the Jewish people. You are in my prayer's continually, I Am a WATCHMAN, ON the walls of Jerusalem, and praying and sounding the alarm as Holy Spirit gives Wisdom & Discernment. Shalom, Shalom!

  2. For some perspective, 30 trillion cubic feet of natural gas is about #25 in the world and around the same amount as Oman, Azerbijan, and Pakistan which are all considered major energy producers. If you stop to consider that Pakistan has over 182 million people to service domestically, Israel has a massive amount of the gas not just in absolute terms but more per capita than places like the UK and India which means it will have a dramatically positive effect on GDP.
    Also, the estimate 255 million in Oz the gas field barrels of oil is fully 2 full years of Israeli domestic consumption assuming it is extractable of course. Leviathan has at least 600 million barrels of oils, and Tamar has a number in between Oz and Leviathan. The fact that less than 1/3 of Israel's territorial waters have been explored and the Shefela basin south of Jerusalem is sitting on more than 100 billion barrels of shale oil should give one cause for long term optimism. Just don't give away the game when you have a winning hand. Don't bow to the enviro-idiots who argue petroleum production is immoral somehow and would prefer Israel use inefficient, subsidized, expensive, unreliable solar and wind power in an effort to de-industrialize the nation. The notion that energy-producing economies are really cursed is utter nonsense as well. It is true when you give badly educated Arab tribemen oil and NG, they remain primitive savages. No one can say oil and natural gas production has been disastrous for Canada or Norway or the US.

  3. Oil and natural gas is only found by drilling! This is only a PRE-DRILL estimate based on geological suppositions that have not been proven. This is a potential prospect that may or may not have accumulations of hydrocarbons. Only when and if hydrocarbons are eventually discovered by drilling a well, can one legitimately discuss the 'finding of a new petroleum field'.
    We are all excited about additional potential, but let us not put the 'field' before the 'discovery well'.

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