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Jordan signs MoU with Canada''s Whitehorn for shale oil production  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 23/10/2012

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(MENAFN - Kuwait News Agency (KUNA)) Jordan aims to produce 50,000 barrels a day of shale oil after signing a memorandum of understanding with Canadian firm Whitehorn to tap into the country's southern shale-oil reserves.

The accord was signed, on behalf of Jordans Energy and Mineral Resources Ministry, by head of the mineral resources department Mousa Al-Zayyoud Managing Director of the company David Street.

The accord will start with an initial production phase of around 9,500 barrels a day of oil from shale over 220 sq/km in the Attarat Um Ghudran and Isphere Al Mahatta areas of central and southern Jordan, which will be raised to 50,000 barrels a day in later stages, said the Jordanian official.

The company will start its operations immediately over a 12-month period, followed by an initial feasability study and development plans over two years.

Whitehorn expects to invest around USD one billion in the project.

 






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