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Israel Grants Zion Oil & Gas Exploration License Agreement

Topics: Onshore
Zion Oil & Gas rig and equipment being loaded on a BBC Chartering ship, BBC Bangkok, on 4 November.

Zion Oil & Gas, Inc. announced on 3 December that it had been granted a 6-month license agreement—the New Megiddo 428—over the previous 99,000-acre Megiddo-Jezreel license area in northern Israel.

Zion expects to spud the Megiddo-Jezreel #2 (MJ02) well at its current well location near Bet She'an by the middle of this month.

 The drilling rig and equipment departed from Constanta, Romania, in early November and arrived at the port of Haifa, Israel. All necessary drilling equipment and supplies have either arrived at the rigsite or are in port awaiting clearance. The drilling crew is working to assemble the rig in time for Israeli governmental inspections scheduled this week.

 “We are thankful for Israel’s unwavering support during these unprecedented times,” Zion CEO Robert Dunn said. “Receiving a new license will allow Zion’s operations to continue drilling into 2021.”

The new license may be extended for an additional 6 months for a total 12-month licensing period.

Zion’s Eastern European crew, which has long experience with Zion drilling rig I-35, is completing Israel's quarantine period as well as intensive COVID-19 protection-and-prevention training.

It will also undergo an Israeli-required safety training course on moving heavy equipment and working from heights.

The company is hiring 12 Israelis to begin training and gain experience as Zion moves toward building an indigenous drilling crew.

Israel Grants Zion Oil & Gas Exploration License Agreement

07 December 2020

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