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Israel to Award Oil Drilling Permits to Several Large Firms

Israel’s Ministry of Development expects investments totaling $7,000,000 annually in the next few years, for oil drilling, the Knesset, Israel’s Parliament, was told today by Moshe Kol, the Cabinet member heading that Ministry. He said that one-third of the investments will come from foreign sources. He announced that several oil drilling licenses will be awarded this year to several large firms “of substantial means.”