Rotem Energy minerals: the oil shale Reserves in the Mishor Rotem area could produce 135 million barrels

Rotem Energy minerals, an energy and environmental company, reported to the Stock Exchange that the Oil Commissioner in the Ministry of Energy announced the oil shale deposit in the Mishor Rotem license area as a discovery. Which is 100% owned by the Partnership, is estimated at approximately 245 million tons Of which about 135 million barrels of oil can be produced.
The discovery certificate paves the way for the signing of an agreement to authorize the planning of the production facilities in the industrial zone adjacent to the license area of ​​the partnership. The committee decided to recommend to the Rami the allocation of an area exempt from a tender, subject to the provision of a bank guarantee of NIS 1.3 million and compliance with milestones following the presentation of the project by the Partnership to the Ministries of Energy and Economy.
The partnership prepared the mining plan for the license area it had granted it and is now working on preparing the plan for the facilities in the industrial zone.
The Rotem Energy minerals partnership, which began trading on the Tel Aviv Stock Exchange last week, is active in the field of energy and the environment, and plans to establish in Mishor Rotem oil production facilities. The Partnership is currently promoting the work plan required for reaching a financial close for the construction of the two production facilities. In order to produce energy, the Partnership's facilities will be supplied with oil shale and 200,000 tons of municipal plastic waste annually. The pair of facilities that will be built according to stringent environmental standards will employ hundreds of workers and it will be possible to produce about 1.7 million barrels of oil a year, while generating electricity at a capacity of about 30 megawatts. The Partnership's activities are in line with the Ministry of Environmental Protection's policy that promotes the establishment of energy recovery facilities from non-biodegradable municipal plastic waste (eg bags, etc.), which is an increasing environmental problem.
The partnership was established in 2016 by the general partner Northwood Exploration Israel, controlled by the Casella family of Australia. The CEO of the partnership is Mr. Jacques Sabag, and the chairman of the board is Dr. Yaakov Mimran, former director of oil affairs at the Ministry of Energy.