Deal between Jordan and Canada

Jordan has agreed with a Canadian company for exploration of Oil Shale Resources in the center and south of the country. Jordan's Natural Resources Authority (NRA) signed on Monday a Memorandum of Understanding "with Global Oil Shale Holdings (GOSH), a Canadian firm, to assess oil shale resources in Attarat Um Ghudran and Isphere Al-mahata areas, according to an official statement. The accord culminated efforts of the NRA in marketing and promotion of areas to explore and exploit Oil Shale Resources in the central and southern parts of the kingdom. The company during the term of 24 months memorandum of understanding, will study the economic feasibility of an oil shale project in the two regions. After completing the term, the company will enter into negotiations with the government to conclude an agreement to exploit oil shale resources within the two Areas. Through the MoU, the company is granted an estimated area of 221.3 km in the two areas to carry out exploratory operations and the studies necessary to determine the area that meets the needs of the project in terms of the quantity and quality for the intended project. Mr. David Argile, the General Manager of GOSH, said the company is studying the economic feasibility of the project in the two areas and the feasibility of producing up to 50,000 barrels per day of shale oil during the development period that extends 40 years, adding that the company at the end of the study period will sign an agreement to develop oil shale resources in the two areas with an initial Oil Shale reserve estimates of about 2.5 billion tons. The estimated Kingdom's imports of energy is about 98 percent of Kingdom's fuel consumption that makes oil shale projects viable economic contribution option to ease the burdens posed by energy on the treasury.