The discovery of the Tamar gas field followed by an additional
discovery at Leviathan transformed Israel's status as an energy
producer.
Petroleum and its products supply some 60% of Israel's energy consumption.
Approximately 300,000 barrels of oil are used daily, all of which
are imported from overseas with only a negligible amount produced
locally. To reduce the country's dependence on imported oil and
strengthen its economy, the Israeli Ministry of Energy and Water
Resources promotes oil and natural gas exploration onshore and
offshore.
Until recently exploration efforts were not very successful.
However, the discovery of the Tamar gas field in 2009 followed by
an additional discovery at Leviathan transformed the country's
status as an energy producer and the effect on the economy has been
profound. The finds have allowed Israel to become a nation capable
of providing for a substantial portion of its energy
consumption.
