MAJOR DEVELOPMENT -- Discovery of Oil in ISRAEL Ten Times Larger than World Average
Discovery of oil in ISRAEL means the Jewish state could soon produce 'significant quantities' of 'black gold'... and potentially change the face of the Middle East
- Breakthrough made in the Golan Heights close to the border with Syria
- Layers of oil are thought to be ten times thicker than the global average
- Oil company is backed by Dick Cheney and media mogul Rupert Murdoch
- Experts say they won't know quantity or quality until they begin extracting
Vast oil reserves have been discovered in Israel that could transform the country into world energy power and change the face of the Middle East for years to come.
Afek Oil and Gas, an Israeli subsidiary of the U.S. company Genie Energy, said the breakthrough came in the Golan Heights, near the border with Syria.
Yuval Bartov, the firm's chief geologist, said there was 'enormous excitement' about the immense wealth it could bring to the Jewish state, which has long yearned for its own resource of 'black gold'.
Speaking to Paul Alster, an Israel-based journalist for Fox News, he said: 'It's a fantastic feeling.
'We are talking about a strata which is 350 metres thick and what is important is the thickness and the porosity.
'On average in the world, strata are 20-30 metres thick, so this is ten times as large as that, so we are talking about significant quantities.'
The main site lies close to the town of Katzrin, northeast of the Sea of Galilee.