News Briefs

  6/3/2012, Sivan 13, 5772

Israel Discovers New Giant Off-Shore Oil and Gas Field

An Israel energy company announced Sunday it has discovered an off-shore energy field that may even surpass previous finds in terms of the possibilities of developing commercial grade oil. Israel Opportunity Energy Resources LP announced that its Pelagic licenses indicate 6.7 trillion cubic feet (TCF) of gas and 1.4 billion barrels of oil.