An Israeli soldier checks a Merkava tank stationed in the Israeli-occupied Golan Heights along the border with Syria on 1 September 2013. (Photo: AFP – Jack Guez)

Tel Aviv is close to completing a geological survey of the occupied Golan Heights, where commercial deposits have been discovered. Up to 10 major drilling rigs could soon be pumping oil from the Syrian territory.

Israeli media are reporting that the American oil company Genie Energy has completed a major geological survey in the southern part of the Golan Heights and results are expected within a few weeks.

Not surprisingly, the New Jersey-based Genie Energy, which was granted survey and drilling rights in the Golan last February from the Israeli government, is owned by rich Zionists like Howard Jonas , [Lord Jacob Rothschild] and media mogul Rupert Murdoch.

The reports say drilling could start as soon as the survey is analyzed, pointing out that extracting oil in this area will be much easier and cheaper than it is in the Mediterranean, where oil and gas lie as deep as five kilometers below the sea level.

Not surprisingly, the New Jersey-based Genie Energy, which was granted survey and drilling rights in the Golan last February from the Israeli government, is owned by rich Zionists like Howard Jones and media mogul Rupert Murdoch.

Some commentators did raise the issue of the Golan Heights being occupied land, making any such activity as extracting oil a violation of international law. However, Genie’s Israeli manager, a former minister, is quoted as saying that he does not expect any international pressure on this matter, particularly from Syria, which is embroiled in an internal war.

For its part, the Hebrew business daily Globes warned of a repeat of Israel’s experience in the occupied Sinai peninsula in the 1970s, when as an occupying power Tel Aviv extracted large amounts of petroleum, compensation for which the Egyptian government is still pursuing to this day despite the Camp David Accords.

The newspaper added that Cairo is in the process of drawing up a lawsuit against Israel around this very issue, asking for billions of dollars in compensation.

This article is an edited translation from the Arabic Edition.