Israeli Company Strikes Oil Near Dead Sea

Arutz Sheva ^ | 18:40 Oct 05, '06 / 13 Tishrei 5767 | by Hillel Fendel

[Fred Nerks]

An Israeli company reports it has struck oil in the Dead Sea region, possibly worth up to $350 million.

The company, Ginko Oil Exploration, says that oil spurted on Monday from a depth of 1,800 meters (1.12 miles), and that further tests will be carried out in the coming days. The oil, estimated at about 6.5 million barrels' worth, was found just north of the Dead Sea.

Ginko extracted about 120,000 barrels of crude oil from the site about ten years ago, but gave up the initiative. The drilling has now been renewed, as it has in many places around the world, because of the steep increase in oil prices. Ginko has already acquired pipelines and containers for transporting the extracted fuel.

In April 2004, Ginko discovered a seven-meter layer of natural gas in the same region.

Israel has produced only 20 million barrels of oil in the last half-century, the Associated Press reports - less than what the Saudis produce every three days.

[Fred Nerks]

Israel discovers oil in Dead Sea region. Mazel Tov!

[eastforker]

Israel discovers wet oily spot.

[KoRn]

Well I suppose if there is any big oil spill on the Dead Sea there won't be any big loss as far as the environment is concerned. =)

[Fred Nerks]

might have guessed, you're from Texas.

This discovery will mean a lot to a small nation like Israel with only about 7 million people.

And there WILL be more!

[eastforker]

I don't see how such a small discovery can even justify it's removal and transportation.

[airborne]

It always seemed curious to me that Israel had no oil, while all her enemies around her had excessive amounts.

Good for them!

[Fred Nerks]

Oil spills in the Dead Sea? Bitumen 'bulls' have been harvested by arabs in the Dead Sea for hundreds of years.

http://www.datadubai.com/oil2.htm

For the ancient Arabian people known as the Nabataeans, history arrived in 312 BC, when an army of Greek mercenaries crossed the Syrian desert into present-day Jordan and headed toward the southern tip of the Dead sea. When they reached their destination, their commander - a general named Hieronymus of Cardia - couldn't believe his eyes: scores of Arabic-speaking tribesmen were camped on the shore, with pack-camels couched and reed rafts beached, waiting for what they called the thawr - the word was Arabic for "bull" - to appear in the middle of the sulfur- smelling waters. The “bulls,” Hieronymus discovered, were great iceberg-like mounds of jellied crude oil - bitumen - that floated up from the depths of the murky water and drifted aimlessly with the wind (See Aramco World, November-December 1984). Every time a new "bull" rose into sight, a swarm of axe-wielding seamen leapt onto their reed-bundle rafts and began a frantic race toward the catch. The Arabs prized the oily exudate immensely; as the Greeks put it they carried the stuff off "like plunder of war." Nowhere is this scene more vividly depicted than in Hieronymus's own journal: "They make ready large bundles of reeds and cast them into the sea. On these not more than three men take their places, two of whom row with oars, which are lashed on, but one carries a bow and repels any who sail against them from the other shore, or who venture to interfere with them. When they come near the floating bitumen they jump upon it with axes and, just as if it were soft stone, they cut pieces and load them onto the raft, after which they sail back."

[umgud]

At 5900 feet this would be considered a post hole here. Can't have cost much to drill.

BTW, I like yer tagline. My 73 year old father just picked one up for about $1,600.

[eastforker]

Yeah, they don't seem to want to bargain too much on those. As far bas the oil goes that 6.5 million barrals could keep the refinery I work at going for, well, maybe two weeks.

[mcshot]

Neat tag line - did you mean AR-10? I like muzlim velocity versus muzzle.
Hope the 6mm SPC takes over in the AR series.

[eastforker]

Nope, M1A Springfield.

[mcshot]

Unfortunately Komrad Klinton gave most of our M-14 armory supplies to the Balkan muzzies. I like the rifle but prefer the Italian BM series based on improved garand with box magazine. I have the BM 62 which is the sportsman version and only 35 were made. Check out the BM series as they had everything covered.
mc

[Honestfreedom]

Probably most of what Israel has produced over its history was in the Sinai when they held it.

[msnimje]

It always seemed curious to me that Israel had no oil, while all her enemies around her had excessive amounts.

Golda Mier Quote:

"Let me tell you something that we Israelis have against Moses. He took us 40 years through the desert in order to bring us to the one spot in the Middle East that has no oil! "

[eastforker]

You do know this is new production series? The M1A that is, the SOCOM 16 is as another poster stated " The ShitZZZ".

[mbennett203]

"I don't see how such a small discovery can even justify it's removal and transportation."

Military use for a nation surrounded by other hostile nations that have all the oil.

[SunkenCiv]

Israel is only a few dozen miles wide, y'know, the distance drivers in Texas cover in ten minutes. :')

[blake6900]

An Israeli company reports it has struck oil in the Dead Sea region, possibly worth up to $350 million.

Uh-oh...look for oil prices to go down.

[SubMareener]

This is starting to get spooky!