Middle East Economic Survey

VOL. LIII

No 5

1-Feb-2010

ISRAEL

Givot Olam Announces Oil Strike With Meged-5 Well

Givot Olam Oil has announced the flow of significant quantities of oil from the Meged-5 well, drilled near Rosh Ha'ayin in central Israel. Drilling began in June 2009. The company said the well discovered an oil structure over 600ms in length. An electric log test gave preliminary indications of a 50-100ms pay zone. The report added that it was too soon to discuss the...