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American Firm Signs Pact on Drilling for Offshore Oil in Israel

The Livingston Oil Company of Tulsa, Oklahoma, signed an agreement today with Petrocana, which holds an exploration concession on Israel’s continental shelf, for joint efforts at drilling for offshore oil reserves. A Petrocana spokesman said drilling would start next spring with an initial investment of several million dollars, An offshore drilling contractor will provide a drill ship, crew and equipment for the venture.