HISTORY OF OIL AND GAS IN ISRAEL
ZEBI OIL & GAS LLC TODAY IN THE MIDDLE EAST
The Middle East contains some of the biggest and richest oil fields in the world. Some of which are in decline having gone past their peak several years ago and will decline more in the next few years with future predictions of total declines by 2030 to 2050 in Saudi Arabia, Iran, Iraq and Kuwait. Oil & gas will continue to rise in prices. Oil and gas usage in China and India continues to increase by leaps and bounds. Even with the current economic downturn, the needs and desires for oil and gas in the 21st century will continue to skyrocket as production declines and demand increases. In the summer of 2008 oil hit $147.00 a barrel and natural gas $14.26 mcf. Saudi Arabia, Kuwait, Iran and Iraq and others have made multiplied billions of dollars through the years. Mike believes that an oilfield of the same magnitude as Saudi Arabia is in Israel in the Megiddo and Jezreel Valley and other biblical areas and that oil will fluctuate between $60.00 and $300.00 a bbl in the next several years.
HISTORY OF OIL IN ISRAEL Oil exploration in Israel has gone through several phases. Many people have neglected or overlooked some of the basic statistics pertaining to oil exploration in Israel and have derided the hydrocarbon potential that can be found in the country. The first exploration for oil in Israel began even before statehood in 1947. Between 1954 and 2009 over 430 wells had been drilled in Israel, of which over 120 were step out and production wells. These wells ranged in depth from 1500 ft to the deepest well of over 21,000 ft. near Atlit, a well on which Mike was a consultant, along with his father Vic Lambert. In 1982 over 42,000 wells were drilled in America. So you can see, very little drilling has actually been done. These attempts centered upon drilling the Cretaceous formations primarily in the Negev. Later the exploration centered upon the Upper and Middle Jurassic formations resulting in the discovery of the first gas fields:
a. Gas was found in Zohar, Kidod and Hakanaim, near Arad, Sadot: and shallow gas in Ashdod, Shiqma, and Netora.
b. Oil discoveries were found in Kokhav, near Heletz, Ashdod, Tsuk Tamru and Gurim. There was also a non-commercial oil discovery at Gurim, near Arad. The Heletz field produced about 17.2 million bbls of oil but is now dry and at today’s prices, would be over one billion, two hundred and four million dollars.
c. The oil crisis in 1973 spurred the government’s interest in further oil exploration and its focus shifted to large structures in deeper unexplored
d. sediments. During this period there was exploration in the Sinai which then belonged to Israel. Tremendous oil wells were found in the Suez Canal, 8000-10,000 bbls a day, and this Alma field was later given back to Egypt in the Camp David agreements.
e. Of special note are the 8 deep wells (Triassic and deeper,) drilled in Israel, Ga’ash #2, Ramallah #1, Deborah #2a, David, Meged 2,3,4 and the Atlit #1&2 the same well. The Deborah #2a had live oil shows, fluorescence and chloroform cuts in the samples, but they were tight with a drill stem test confirming this. The Ramallah #1 also had oil shows in the Jurassic and Triassic formation. The Meged was recognized as a commercial discovery by the Israeli government’s grant at the beginning of 2004; though they had production problems. That is only one well per 1500 km2.
f. Over the past several years, significant amounts of natural gas have been discovered off the coast of Israel, which is an extremely important development for a country with very limited domestic energy resources. Initial estimates are 3.5 trillion cubic feet (Tcf) in proven gas reserves from several Israeli and Gaza fields which were discovered and will be developed by two different groups.
g. The Mari and Noa fields are the largest fields, with estimated reserves of 1.7 Tcf of gas. Both were discovered by the Yam Tethys Joint Venture, consisting of Noble (formerly Samedan) Mediterranean, Avner Oil Limited Partnership, Delek Drilling Ltd Partnership and several other Delek group entities.
h. The second group is a joint venture led by British Gas and Isramco, together with several other members of the Isramco group and additional Israeli entities. In August 2000, the BG-Isramco group announced that it had discovered a large gas field 12 miles offshore at its Nir-1 well. The well reportedly contains gas reserves of 274 Bcf.
i. Development of production facilities for the Mari and Noa fields has been completed, including a gas pipeline to shore. Deliveries of gas from the Mari Field began in February 2004. Installation of additional onshore and offshore infrastructure for gas distribution to local markets is continuing. The Nir Field has recently been abandoned due to unfavorable economics following the failure of the appraisal well. The Yam Tethys and Isramco groups are planning to drill a deep water gas test in the Mediterranean 55 miles west of Haifa in 2008 on a prospect first developed by British Gas. The Isramco group is in planning stages to drill a deep offshore oil test near its abandoned Yam-2 test, drilled in the early 1990s.
j. In addition to it’s participation in Israeli offshore gas exploration and development, British Gas discovered a large gas field 15 miles offshore Gaza under an exploration license granted to it by the Palestinian Authority. Estimated to contain 1.2 Tcf of gas, the field is located within a few miles of the Yam Tethys and BG-Isramco discoveries. Negotiations
k. with the Israeli government are underway to sell the gas from this field to Israel.
l. The most notable discoveries as of late are offshore Haifa in December of 2008 and the winter and spring of 2009. A massive natural gas find off the coast of Haifa which was lauded as capable of fueling all of Israel for 15 years is actually more than 60 percent larger than originally estimated, according to the American partner in the drill, Noble Energy Inc.
Israeli companies Isramco, Negev 2, Delek Drilling, Avner Oil Exploration, and Dor Gas Exploration had the majority of the stake on the dig – named Tamar-1 – which is estimated at a potential of 5 trillion cubic feet of natural gas. As two other wells have been discovered this past spring, the estimates are going up all the time with some believing these fields can fuel Israel for up to the next 20 to 30 years with natural gas.
In 1979, James Wilson (then the former chief geologist of Shell Oil Company,) prepared a report for the Israeli government that estimated that the onshore reserves potential of the country (excluding the Dead Sea area) was 330 million to 2 billion barrels. In northern Israel very little exploratory drilling has been undertaken, and ZEBI believes the Valley of Jezreel and Megiddo is full of oil and gas and will prove to be a great field, changing the destiny of a nation.
Mike is looking for investors who want to enter a project with tremendous potential for high revenues, being a blessing to the nation of Israel and the body of Christ, with high risks involved as all oil and gas ventures are.
YOU CAN BE A PART OF GOD’S END TIME PLAN FOR ISRAEL AND THE KINGDOM OF GOD