Jordan’s Ministry of Energy and Mineral Resources and Canada’s Global Oil Shale Holdings have signed a memorandum of understanding (MOU) to assess shale oil reserves in Attarat Umm Ghadran and Isphere al-Mahatain Central. Under the 24-month MOU Global Oil will carry out a feasibility study of the two southern areas which span 220 sq kms. Thereafter the company can negotiate for a concession agreement with the government.
Signing the MOU on 17 September, the Minister of Energy ‘Alai -Batayna, said the production target was up to 50,000 b/d of crude. Global Oil’s general manager, David Argyle, stated that the income generated from the project over a 25-year period could rise to $32bn. Output represents 25% of the kingdom’s current crude consumption needs, he noted. Drilling will start in three months and continue for 12-18 months. He estimated production would start at an 8,000 b/d average rate. (CONTINUED - 291 WORDS)
