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Israel approves drilling for oil in Golan Heights – Syrian occupied territory

(JPost) – Israel awarded the first license to drill for oil on the Golan Heights, local media reported. A New Jersey-based company was awarded the license, covering half the area of the Golan from the latitude of Katzrin in the north to Tzemach in the south.

Sources informed ”Globes” that, a few days ago, the Ministry of Energy and Water Resources’ Petroleum Council recommended awarding the license to Genie Energy Ltd., headed by former minister Efraim Eitam.

Shareholders include chairman Howard Jonas, Lord Jacob Rothschild, and Rupert Murdoch. Former US Vice President Dick Cheney is an adviser.

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The process of granting the license began following geological tests, which indicated a large potential oil discovery in the southern Golan Heights. On the basis of the findings, last summer, Minister of Energy and Water Resources Uzi Landau declared the Golan as open for oil and gas exploration and production activity.

Efraim Eitam eyes Golan oil venture

(Ynet News) Aug. 15, 2012 – Genie Energy is a subsidiary of US-based IDT Corporation, headed by businessman Howard Jonas. Jonas has contributed to Prime Minister Benjamin Netanyahu’s 2007 primaries campaign and to to Landau’s primaries campaign in 2005.

Genie Energy is also the parent-company of IEI, which is currently pursuing a controversial oil shales exploration project in the Valley of Elah.

Murdoch, Lord Rothschild invest in Israeli shale oil