JERUSALEM (JTA) – Oil reserves that reportedly could provide for Israel’s needs for many years have been found on the Golan Heights.
The reserves were found in the southern Golan following a year of drilling, the Afek Oil and Gas company announced Tuesday.
“We are talking about significant quantities,” Yuval Bartov, Afek’s chief geologist, told Channel 2 News. “The important thing is to know the oil is in the rock and that’s what we now know.”
The rock could potentially hold billions of barrels and provide for all of Israel’s oil needs for many years, according to Channel 2. Israel consumes 270,000 barrels of oil per day, according to the report.
Afek will determine whether the oil can be easily removed without high production costs.
In addition to opposition from environmental groups, the geopolitical situation could create obstacles, according to Channel 2. Israel captured the Golan Heights from Syria in 1967 and annexed it in 1981, a move not recognized by the international community, which considers the strategic plateau occupied territory.