Tuesday, June 5, 2012

Israel Discovers New Giant Off-Shore Oil and Gas Field

Ed. Note: I wrote another article exploring the  prophetic implications of this discovery here. It also lists the major oil/gas discoveries in the last 3 years.
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Israel has been blessed with gas and oil bounty these last three years. Several large discoveries have been made. Sunday another discovery was made, an oil field under the Red Sea off Israel. Officials say this one may surpass all the other finds in quality and in output.

Israel Discovers New Giant Off-Shore Oil and Gas Field
"An 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. Discoveries of oil and gas have made outdated the old joke that Moses took the wrong turn from Egypt, leading Israel to sand and leaving oil for the Arabs. ... “The quantity of gas discovered in the licenses, and the high probabilities, make it the third largest offshore discovery to date,” according to Israel Opportunity chairman Ronny Halman, quoted by Globes.He added, ”This quantity guarantees Israel's energy future for decades, and makes it possible to export Israeli gas, and boost the state's revenues without worrying about gas reserves for domestic consumption."

They are preparing wells now. It won't take long to get it up and running with oil pouring out in export, officials say. Will the other exporting oil giant, the Russian Bear, get jealous? The bible has that answer.

In the Gog Magog battle of Ezekiel 38-39, Russia is one of the nations that attack Israel, for the purpose of taking a spoil, of seizing plunder. "Sheba and Dedan and the merchants of Tarshish and all its leaders will say to you, 'Have you come to seize spoil? Have you assembled your hosts to carry off plunder, to carry away silver and gold, to take away livestock and goods, to seize great spoil?' " (Ez 38:13)

Things are surely lining up!


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