Following their recent participation in the Canada-Israel oil and gas seminar, which took place in Toronto in the presence of The Honourable Uzi Landau, Israel’s Minister of Energy and Water Resources and The Honourable Joe Oliver, Canada’s Minister of Natural Resources, Adira Energy’s co-founder, Alan Friedman, gave an interview to Mr. Jeremy Naylor of ProactiveInvestor.co.uk during the 2012 Oil Council World Assembly about Adira’s activities and the huge potential that exist offshore in Israel.
The purpose of Canada-Israel oil gas seminar was to was to introduce Canadian oil and gas industry to areas of cooperation in Israel’s burgeoning oil and gas sector. On October 30th 2012, following this event, the Honourable Joe Oliver, Canada’s Minister of Natural Resources, and Honourable Uzi Landau, Israeli Minister of Energy and Water Resources, today announced the creation of the Canada–Israel Energy Science and Technology Fund, which will see Canada and Israel pursue further cooperation to advance shared energy interests.
The Government of Canada will contribute $5 million over the next three years to support the fund.
The Government of Israel will provide funds on a project-by-project basis to initiatives under this program. The approval of those projects will be in accordance with the applicable laws, regulations, rules, procedures and mechanisms of the Office of the Chief Scientist in the Israeli Ministry of Industry Trade and Labor (OCS).
Additional information about this agreement can be found here