US-based Zion Oil & Gas has received approval from Israel’s Ministry of Energy for the recompletion of its Megiddo-Jezreel #1 (MJ-01) well, which it originally drilled in 2018.

In a press release, the company’s CEO Rob Dunn was quoted as saying: “Israel is open for business and we are grateful for the Israeli government’s green light on our workplan, allowing us to move ahead with the MJ-01 recompletion project.”

He added: “This is an exciting time for Zion as we implement cutting-edge technologies and stimulation methods to potentially unlock previous and newly identified zones of interest.”

MJ-01 lies in the south-eastern section of exploration licence 434 – the Megiddo Valleys Licence – which covers an area of around 75,000 acres (303 square km) near the border with Jordan, south of the sea of Galilee.

The company said that it “has secured service contractors and ancillary items required for efficient operations” and is now targeting a recompletion project start date in Q1 2024.

Founder and chairman John Brown said: “Our journey continues with an unwavering faith in God and the ongoing support of our shareholders … We appreciate all the support from so many who have joined us in this journey of faith for Israel’s oil and gas.”

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