On Monday, the Supreme Court dismissed a petition filed by the Israel Union for Environmental Defenseagainst the development of shale oil by Israel Energy Initiatives Ltd. (IEI) and its partners.
The Union for Environmental Defense petitioned the Supreme Court to cancel the regulations governing oil and gas exploration permits, and to cancel IEI's exploration license. In October, the Supreme Court dismissed a petition filed by the Union for Environmental Defense challenging the issuance of exploratory licenses, including IEI’s license, which were issued under the regulations.
IEI said that the Supreme Court decision removes a major roadblock to the company's shale oil project, enabling it to obtain permits. It added that it will seek from the Ministry of Energy and Water Resources permits which will enable it to prepare the environmental documents needed to file a pilot test permit application with the Jerusalem Regional Planning and Building Commission.
IEI is seeking to develop shale oil reserves in the coastal plain using an in-situ conversion process to extract oil from oil shale rock without mining by heating the rock to convert the organic matter in it to light oil. IEI estimates its license area has 40 billion barrels of oil, out of the estimated 150 billion barrels of oil in the coastal plan.
Published by Globes [online], Israel business news - www.globes-online.com - on December 26, 2012
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