An oil deposit was discovered near the Dead Sea, the announcement of the discovery made on Sunday by the Hatrurim consortium. According to a report by the Dunmore Consulting, the oil reserve is estimated between 7-11 million barrels of oil worth over $316 million dollars. The Hatrurim license for gas and oil exploration covers 94 square kilometers around the Dead Sea.

The first discovery of oil was made over a decade ago by drilling of the Delek Group Ltd. In October of 2015, a large oil deposit was discovered in the Golan Heights following three drillings in the southern Golan Heights. The drilling was carried out by the subsidiary of American company Genie Energy who requested to begin to drill in August. FULL REPORT