Israel to launch oil exploration at Golan HeightsFebruary 21, 2013 - 17:53 AMT PanARMENIAN.Net - The Israeli government has issued the first license to explore for oil on the Golan Heights, the plateau in south-western Syria captured and annexed by Israel, the license holder Genie Energy said on Thursday, February 21, according to RIA Novosti. The license allows Genie Energy’s Israeli subsidiary to conduct oil exploration on an area of almost 400 sq km (155 square miles) in the plateau's southern portion. “The company believes, based on its preliminary analysis and interpretation of existing geological data, that the newly-issued license area may contain significant quantities of conventional oil and gas in relatively tight formations, the development of which would entail significantly different technical approaches and project timelines than the other projects,” Genie Energy said in a statement. Genie Energy intends to conduct exploration to further investigate the size and quality of the oil resources in the new license area, Genie said. Israel seized the Golan Heights from Syria in the 1967 Middle East war and annexed it in 1981 in a move not recognized internationally. Most of the Syrian Arab inhabitants fled the area during the conflict. Israel’s economic projects on disputed territories have frequently sparked criticism from the international community. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | “By Your Side”: IDBank's new support program for displaced Artsakh citizens IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. |