Israel announced on Sunday the discovery of a major offshore gas field, the third to be located in its waters in the past five years, augmenting its newly acquired status as an energy power
"And of Asher he said, Let Asher be blessed with children; let him be acceptable to his brethren, and let him dip his foot in oil." Deuteronomy 33:24
The new field, some 90 miles off Israel’s coast in the eastern Mediterranean, holds at least 3.2 trillion cubic feet (TCF) of gas, according to a 3D seismic survey.
Two larger fields, discovered in 2009 and 2010, have combined reserves of at least 33 trillion cubic feet. These fields are expected to serve the bulk of Israel’s gas needs for the coming century. Experts say that further exploration will likely uncover other sizeable fields in Israel’s deep offshore waters.
The drilling of an exploration well in the newest field, named Royee, is expected to get underway in December 2015.
The gas discoveries will have a major impact on Israel’s economy and perhaps even on its relations with Arab neighbors. Jordan, the Palestinian Authority, and Egypt are all in urgent need of energy supplies and Israel would be the natural supplier. Israel’s proximity would make the gas significantly cheaper than gas they could acquire from any other source.
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