The Petrocana Oil Company, an Israeli firm, has entered into new partnerships which will make it possible to start drilling in its Mediterranean off-shore concessions within two to five months, Gordon Hirshhorn, chairman of the Petrocana board, said here today on his return from a trip to the United States.
Earlier this month, Livingston Oil Company of Tulsa, Okla., cancelled an agreement with Petrocana under which the Tulsa firm was to have started drilling for oil on Petrocana leases.
Mr. Hirshhorn said the new partners were a private American firm specifically founded for the drilling, the Mediterranean Petroleum Corporation, and Barnwell Industries, Inc., a publicly-owned firm in Shreveport, La. The companies will carry out drill operations in return for a working interest in the venture.
JTA has documented Jewish history in real-time for over a century. Keep our journalism strong by joining us in supporting independent, award-winning reporting.
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.
