The Israel Government has granted 31 oil prospecting licenses to seven different companies, two of which are Israeli corporations, Pinchas Saphir, director of the government’s Development Department, announced here late yesterday.
The companies involved will be notified formally next week that they have the licenses. They will pay 100 pounds for each license and five additional pounds for each 1,000 dunams (250 acres) in which they are permitted to prospect. The companies must begin work–other than drilling–within four months after they receive their licenses. They must begin drilling within two years.
The companies which received licenses are: Husky Oil Corporation, United States, six licenses covering 1,665,000 dunams; Brode and Company, three licenses covering 910,000 dunams; New Continental Oil Corporation, Canada, eight licenses covering 2,700,000 dunams; Saks-Ben Tuvim Group, Canada, four licenses covering 1,130,000 dunams; The Israel company organized as Lapidot, which actually consists of the Mekroth Water Company and AMPAL, which received three joint licenses; Mechspei Neft Company, in which Swiss, Israeli and American investors are involved, one license covering 215,000 dunams; and the Hayarden Company, organized by the M. Novomeisky-Lord Glenconner investment group.
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