Israneft Exploration Ltd is rated 3 out of 5 in the category oil & energy. Read and write reviews about Israneft Exploration Ltd. Israneft’s mission is to discover large, commercially viable oil and natural gas fields in Israel, utilizing already identified prospects substantiated through the incorporation and analysis of all available scientific data. Israneft is extremely confident that Israel contains major oil and natural gas reserves that have yet to be discovered. History Since the 1960's, extensive scientific research was done primarily by Israeli geologists as well as those from the U.S. Geological Survey (USGS). In addition, preliminary evaluations of the oil potential of Israel were initiated by international petroleum companies such as Exxon (1962) and Shell (1979). Although considerable speculative potential of oil and natural gas was suggested by these evaluations, further international exploration efforts were not implemented due to economic and political reasons. Now is the time, because of the advances in drilling technology along with the much improved economics that the required exploration effort becomes both feasible and highly rewarding upon success with the political issue, therefore, being less of a factor. It is Israneft’s desire to lead the way toward Israel‘s energy independence in oil.
Company size
1-10 employees