User:Kharbaan Ghaltaan/sandbox
State in eastern India / From Wikipedia, the free encyclopedia
Economy (!)
This is the user sandbox of Kharbaan Ghaltaan. A user sandbox is a subpage of the user's user page. It serves as a testing spot and page development space for the user and is not an encyclopedia article. Create or edit your own sandbox here. Other sandboxes: Main sandbox | Template sandbox Finished writing a draft article? Are you ready to request review of it by an experienced editor for possible inclusion in Wikipedia? Submit your draft for review! |
Oil and gas
Over 3 billion barrels (480,000,000 m3) of oil are estimated to exist off the coast and beneath occupied Palestinian lands. The Levant Basin holds around 1.7 billion barrels (270,000,000 m3) of oil, with another 1.5 billion barrels (240,000,000 m3) barrels beneath the occupied West Bank area. According to a report by the UNCTAD, around 1,250 billion barrels (1.99×1011 m3)of oil reserves exists in the occupied West Bank.[1] In the West Bank, according to the Palestinian Authority, 80% of Meged oil field falls under lands of Palestinians.
Masadder, a subsidiary of PIF is developing the oilfield in the West Bank. Block-1 field, which spans an area of 432 square kilometres (167 sq mi) from northwest Ramallah to Qalqilya in Palestine, has significant potential for recoverable hydrocarbon resources.[2][3] It is estimated to have a P90 (a level of certainty) of 0.03 billion barrels (4,800,000 m3) of recoverable oil and 6,000,000,000 cubic feet (170,000,000 m3).
Economy
Oil and gas
The presence of oil and gas reserves in Palestine is contentious. Over 3 billion barrels of oil are estimated to exist off the coast and beneath occupied Palestinian lands.[4] The Levant Basin holds around 1.7 billion barrels of oil, with another 1.5 billion barrels beneath the occupied West Bank area.[1] According to a report by the UNCTAD, around 1,250 billion barrels of oil reserves exists in the occupied West Bank.[1]
Over 3 billion barrels (480,000,000 m3) of oil are estimated to exist off the coast and beneath occupied Palestinian lands. The Levant Basin holds around 1.7 billion barrels (270,000,000 m3) of oil, with another 1.5 billion barrels (240,000,000 m3) barrels beneath the occupied West Bank area. According to a report by the UNCTAD, around 1,250 billion barrels (1.99×1011 m3)of oil reserves exists in the occupied West Bank.[1] In the West Bank, according to the Palestinian Authority, 80% of Meged oil field falls under lands of Palestinians.
Masadder, a subsidiary of PIF is developing the oilfield in the West Bank. Block-1 field, which spans an area of 432 square kilometres (167 sq mi) from northwest Ramallah to Qalqilya in Palestine, has significant potential for recoverable hydrocarbon resources.[2][3] It is estimated to have a P90 (a level of certainty) of 0.03 billion barrels (4,800,000 m3) of recoverable oil and 6,000,000,000 cubic feet (170,000,000 m3).
Block-1 field, which spans an area of 432 square kilometres (167 sq mi) from northwest Ramallah to Qalqilya in Palestine, has significant potential for recoverable hydrocarbon resources.[2][3] It is estimated to have a P90 (a level of certainty) of 30 million barrels of recoverable oil and 60 billion cubic feet
of recoverable gas.[2]
Recognizing the importance of oil and natural gas development for sustainable economic growth in Palestine, the Palestine Investment Fund, through Massader, has prepared an investment program for the development of the West Bank Oil Field, also known as the "Block 1 Field."[2] The estimated cost for the development of the field is $390 million, and it will be carried out under a production sharing agreement with the Government of Palestine.[2][5][6] Currently, an initial pre-exploration work program is underway to prepare for designing an exploration plan for approval, which will precede the full-fledged development of the field.[2]
Around 2 billion barrels (320,000,000 m3) of oil reserves are beleived to exist in shore of the Gaza Strip. While 1,250 billion barrels (1.99×1011 m3) of oil reserves are in the occupied Palestinian territory of the West Bank, probably the Meged oil field. As per the Palestinian Authority, 80% of this oil field falls under the lands owned by Palestinians.
Israel has started taking 500 barrels per day (79 m3/d).