source: http://www.israelnationalnews.com/Ne...6#.T8uOnpV0gfwAn Israel energy company announced Sunday it has discovered an off-shore energy field that may even surpass previous finds in terms of the possibilities of developing commercial grade oil.
Israel Opportunity Energy Resources LP announced that its Pelagic licenses indicate 6.7 trillion cubic feet (TCF) of gas and 1.4 billion barrels of oil. By comparison, the previously announced Tamar and Leviathan off-shore fields contain an estimated 9 and 17 TCF of natural gas. The amount of commercial oil, if any, has not been finalized, but estimates of possible oil in the Leviathan field have been downsized to 600 million barrels...
The new discoveries make it more certain of a virtual revolution in the Israeli economy, with anticipation that Israel will be energy self-sufficient in three years and soon after will be able to export gas and possibly even oil.
The Tamar and Leviathan energy fields are being developed, and the infrastructure work has added thousands of skilled jobs to the labor market. Exporting energy probably will strengthen the shekel and help make it one of the strongest currencies in the world.