Dead Sea Oil Reservoir ‘Entirely Within Israel’ Says Company

An aerial view photo shows large salt formations in the southern part of the Dead Sea, near Ein Boqek, on November 10, 2011.

The Times of Israel reports: An Israeli company authorized to drill an oil reservoir near the Dead Sea, recently evaluated to contain NIS 1.2 billion worth of fuel, stressed Sunday that the area is located entirely inside Israel, which it said was a response to Arab media reports that the site stretched into Palestinian territory.

Israel Opportunity Energy Resources LP said in a statement sent to the media that the Hatrurim field “lies entirely within Israel’s borders.”

The oil company said they were responding to “various reports” in the Arab media, though the statement did not specify which reports, nor the nature of their claims.

A new report released Sunday by the company and filed with the Tel Aviv Stock Exchange claimed the Hatrurim oil reservoir, which covers 94 square kilometers of the Dead Sea area, is worth NIS 1.2 billion ($320 million).

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