Israel strikes oil off Tel Aviv coast

Israel's modiin energy and adira energy corp . on tuesday confirmed  the discovery of an commercially viable quantity of oil just 15 miles of the coast of Tel Aviv.

Late last year midiin and adira published surveys of the 150 square mile gabriella field showing that the site likely contained significant quantities of both oil and natural gas.
Speaking to shreholders in Tel Aviv  adira officials said gabriella is expected to yield 232 million barrels of oil and 1.8 trillion cubic feet of natural gas. Add that to the 25 trillion cubic feet  fo natural gas discovered last year at other mediterranean sites and israels  energy situation is starting to look much improved.
Modiin  majority shareholder tzahi sultan told israels globes business newspaper tha drilling at the gabriella site should begin later this year and a well will be in place producing oli in about five years. ( by israel today magazine)