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JewishJournal.com

May 14, 2012

Oil drilling near Haifa halted

http://www.jewishjournal.com/israel/article/oil_drilling_near_haifa_halted_20120514

Haifa from Baha'i gardens in Israel. Photo by David Shankbone

Haifa from Baha'i gardens in Israel. Photo by David Shankbone

Oil drilling in the Mediterranean Sea off the coast of Haifa was frozen as the investment partners prepare to put a new oil rig in place.

Drilling in the Leviathan oil field, which began more than a year ago, has not yet produced any oil. But it is believed that oil will be discovered at a different depth in new drilling that will not begin for another year, Ynet reported.

The partners, including Noble Energy and the Delek group, say that estimates show at least 600 million barrels of oil in the field. The field also contains a large natural gas reserve.

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