Work is set to start on a joint Dutch-Jordanian oil exploration project in the kingdom, following the conclusion of a deal between the Jordanian government and Royal Dutch Shell.  The deal clears the way for a three-year exploration project in Jordan’s oil shale shores,

an official said Tuesday.  The product-sharing agreement has been
endorsed by Jordan’s parliament and published in the official gazette
on Monday, Natural Resources Authority (NRA) Director Maher Hijazine
said.  Shell’s subsidiary, the Jordan Oil Shale Company BV, is ordering
equipment from Germany so it can start the exploration work within the
next nine months, he added.

Under the agreement, Shell is due to invest at least 30 million dollars
in the first phase of the project.  Following three years of
exploration, the firm will enter a four- year evaluation stage to
determine the feasibility of the initiative.

If Shell agrees to follow through on the scheme, it will be 15-20 years
before oil is extracted, Hijazine said.  Shell could invest 340 million
dollars in the project and pay the government 150 million dollars over
the various stages of the scheme, according to the authorities. 
Official statistics put the country’s total oil shale deposits at about
40 billion tonnes.

Source: DPA

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