— A group of American and Canadian investors is to spend between $3.5-4 million on prospecting for oil in the Kiryat Gat region, according to Elazar Barak, director of the Israeli Hanna Oil Drilling Company which is to carry out the work. The site has been chosen on the basis of satelite pictures backed up with seismological investigations on the ground.
The drillers plan to go down to some 14,500 feet, using drilling equipment and rigs to be moved from Ga’ash just north of Tel Aviv where promising signs of oil have been found. Test pumping at the Ga’ash site is to be started this week, to ascertain the presence of workable oil reserves.
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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.
