In the latest development in Jordan’s nascent tight oil industry, Canada’s Global Oil Shale Holdings has signed an agreement with the Jordanian government to explore for oil in central region of al-Attarat-Um El-Ghudran.
The exploration block is reckoned to hold a sizeable chunk of Jordan’s estimated 45 billion metric tonnes of oil, according to state news agency Petra.
Under the contract, GOSH has two years to carry out diagnostic work and an initial drilling program at al-Attarat-Um El-Ghudran.
Jordan’s Ministry of Energy and Mineral Resources says that if commerciality is declared GOSH may be awarded a subsequent 25-year concession deal.
Unlike many other countries in the region, Jordan has almost no conventional oil and gas resources.
Karak International Oil (KIO), a subsidiary of UK-based Jordan Energy and Mining says it will invest $1.8 billion in oil shale exploration and production in the Kingdom.
