- There could be reservoirs of 980 million barrels of oil
at the Meged-4 well east of Kfar Sava, exploration company Givot Olam said
Tuesday in announcing the findings of geological studies.
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- In Spetember, the company announced that it had found
traces of oil at the site, but thought that there were only 100 million
barrels. The value of the find at today's prices is some 46 billion.
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- Givot said the analysis indicated reservoirs of oil at
depths of 4,800 meters in rocks dating to the Lower Cretaceous Period (50
million years ago), and the oil-bearing layer could be 20 meters thick.
According to the announcement, however, just 20 percent of the reserve
is extricable.
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- Some three years ago, Givot Olam announced that drilling
in the Meged-2 well to the depth of 5,200 meters in the Rosh Ha'ayin region
near Tel Aviv had indicated the presence of an oil accumulation with gas.
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- However the rock formation at the site, south-east of
Meged-4 in the Rosh Ha-ayin area, did not allow for oil production. A later
exploration at Meged-3 found no oil deposits.
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- http://www.haaretz.com/hasen/spages/423495.html
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