Jordan signs deal to develop shale oil
London, September 25, 2012
Jordan has signed Memorandum of Understanding with Global Oil Shale Holdings (Gosh) for the exploration and development of two oil shale blocks in the kingdom.
The MoU for the Attarat Umm Ghudran and Isfir Al Mahatta in the central and southern regions of the country was signed recently by Energy and Mineral Resources Minister Alaa A Batayneh.
Jordan is poised to be the "first to market" for shale oil production with surface and near surface resources estimated at well over 100 billion barrels of shale oil. Initial core samples and geologic assessments indicate that both of Gosh's MoU blocks have significant shale oil potential, said a statement.
The company's initial target is to produce 8,000 barrels of shale oil per day with the ultimate target of 50,000 barrels per day. Gosh plans to commence the drilling program for both blocks immediately, it said.
Company director Dominic Traynor said: "We will move quickly into an aggressive drilling campaign and exploration phase so that the company can delineate the area it plans to retain for development. We intend to complete our preliminary assessment over the next 12 months."
The company has engaged Washington DC based Intek to assist with the initial techno-economic feasibility assessment and preparation of MoU application and proposal for the two blocks. Intek will continue working with Gosh as in-country management and technical lead for the next phase of this project. -TradeArabia News Service