Israel struck oil Sunday, but not enough to strike it rich. The Energy Ministry announced Monday that a small but commercial quantity was discovered in the Negev.
The gusher, known as Well 29 in the Kochav field about 15 kilometers southeast of Ashkelon, is expected to produce about 100 barrels a day from a depth of about 1,600 feet. Oil geologists believe the well holds oil pockets at three different levels.
Energy Minister Moshe Shahal said on a Voice of Israel Radio interview that he still pins his hopes on another oil field, the Agur near Nitzana, which is operated by the Armand Hammer group. Israel has been prospecting for oil almost since the State was founded.
So far, its finds have been marginal compared to the country’s needs. Israel presently buys most of its oil from Egypt.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
