Two more wells were brought in late yesterday in the Heletz on field, Israel’s only producing field. The wells were numbered Ten and Thirteen.
With the digging of new wells all through last year, the Heletz field’s production went from 120 barrels a day to 1,875 a day by year’s end. Estimates place Israel’s production by the end of 1957 at between two and three times that figure.
Present production of crude oil at Heletz is running about five percent of the annual needs come domestic market. Because of Arab boycott, most of Israel’s oil comes from the Caribbean area. A contract with the USSR for 20 percent of Israel’s needs was cancelled unilaterally by the Soviet Union following Israel’s Sinai campaign.
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