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(From Israel Business Arena)
Byline: David Hayoun
Oil and gas exploration partnership Givot Olam today announced that live crude oil was discovered in the Meged 4 prospect near Kfar Sava. The drilling reached a depth of 4,390 meters.
Givot Olam said that a 16-meter core had been extracted from the site, which contained live crude oil.
At the beginning of January, Givot Olam announced it had found initial signs of crude oil in the prospect, after drilling to a depth of 2.4 km. The drilling continued to a depth of 4.7 km.
In contrast to the extensive natural gas …