Exploring for oil in Israel

An interview with John Brown, Chairman of the Board and Founder of Zion Oil and Gas, and Richard Rinberg, the company´s CEO.

Mr Rinberg, how much oil and gas does Israel currently produce?

Rinberg: Israel currently imports all of its oil needs, as it has no significant onshore production. However, there are significant offshore gas fields. The Mari and Noa fields are the largest fields, with estimated reserves of 1.7 Tcf of gas. Two 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. In addition to its 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 with the Israeli government are underway to sell the gas from this field to Israel.

Mr Brown, when did you found Zion Oil & Gas, and why?

Brown: In 1983, during a visit to Israel, I became spiritually inspired and dedicated to finding oil and gas in Israel, and started the process that led to the Joseph Project. During the next fourteen years I made numerous trips to Israel, hired oil and gas consultants in Israel and Texas, met with Israeli government officials, made direct investments with local exploration companies, and assisted Israeli exploration companies in raising money for oil and gas exploration in Israel. This activity led me to form Zion Oil & Gas, Inc. in April 2000 in order to receive the award of a small 28,800 acre onshore petroleum license (the „Ma’anit License“) from the Israeli government. Weiterlesen