Israel Strikes Oil

(Prophecy Today Archive October 13, 2006) Story by Shofar Communications Jerusalem Bureau Chief Ed Horner; Photos by Allison Horner. Article courtesy of Prophecy Today. The original article can be viewed at http://jimmydeyoung.gospelcom.net/pp/israelifront/2006_10_13_archive.html.

Surrounded by the richest oil countries in the world, many would wonder why Israel has never found oil. Now they have. Ginko Oil Exploration, led by Dr. Eli Tannenbaum, has located a potentially large oil field in the Dead Sea region of Israel.

The Dead Sea, near a large oil deposit

Dr. Tannembaum and other specialists on site

In an effort to attract financial partners to harvest the oil, Ginko Oil Exploration reopened a small previously drilled oil well near the Dead Sea and began extracting oil. In an on site interview with Dr. Tannenbaum, he said this first strike is very exciting because it shows that there is oil in the region that can be harvested. He said that Ginko will begin drilling the second well within two months and that the second well should produce a much more significant amount of oil.

An exploration oil rig

One step in the process of oil extraction

Dr. Tannenbaum says that this oil region is not directly connected with surrounding oil fields, but that the sources of the oil deep inside the earth’s crust could be related. He said the oil field in the Dead Sea region is on a deep rift (or tear) similar to Libyan or Egyptian oil fields. The Dead Sea region is the lowest point on earth at almost 400 meters below sea level. Tannenbaum says that he does not foresee Israel’s drilling of oil to be detrimental to surrounding nations’ oil fields.

Ed speaks with Dr. Tannenbaum

Ed speaks with Ginko Exploration’s Site Supervisor

Ginko Exploration’s Site Supervisor said that Israel currently has two oil refineries that could refine the newly extracted crude oil. The extracted crude oil would be taken to the refineries by truck. Israel does not currently have an oil pipeline from this region, and it would most likely not need one in the near future.

Here is Israel’s future oil field

Lead Geologist, Dr. Eli Tannenbaum

My wife and I had the privilege of watching some of Israel’s first oil being pumped from 1800 Meters beneath our feet. Ginko began dismantling the exploration rig while we were on site. They were then going to place a permanent pump on the well as the first of many in the region.

The flow of oil must be carefully monitored

A head on oil well

Israelis currently pay the highest gas prices in the Middle East. Gasoline is approximately $6.50 per gallon and Diesel is $5 per gallon. If Israel could produce its own fuel, it could mean lower prices at the pump for the average Israeli.

The oil is just flowing from this dig

Oil being extracted

Oil in Israel can mean less economic dependence on oil from surrounding countries. It could also mean fewer political negotiations with oil producing countries that routinely plot the demise of Israel.