An Israeli consortium that includes a group largely responsible for the recent discovery of natural gas deposits off the country’s Mediterranean coast plans to begin exploratory drilling for oil at the Dead Sea next month.

The Delek Group headed by Yitzhak Tshuva previously headed the
consortium that found billions of dollars worth of natural gas just 50
miles off the coast of the northern Israel city of Haifa. Tshuva is
convinced that other sources of energy exist in the country, including
oil deposits worth at least half a billion dollars under and around the
Dead Sea.

Following his consortium’s natural gas find earlier this year, Tshuva
said he believed Israel would very soon become energy independent, and
even start exporting natural gas, leading to a major economic
revolution in the country.

But Tshuva won’t be alone in his search for oil in Israel. Texas-based,
Christian-run Zion Oil & Gas has been searching for oil in Israel
since 2000. Founder John Brown says the Bible makes it clear Israel
will be energy independent in the last days. The company’s two
exploratory drillings have so far given inconclusive results, but have
sparked enough optimism for Zion Oil & Gas to continue its
operations.

Source: Israel Today

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