Printer Friendly

Jordan-gas.

Jordan, British Petroleum Sign Natural Gas Agreements

The Jordanian government, the Jordanian National Petroleum Company (NPC) and British Petroleum (BP) on Sunday signed four agreements to develop the Risheh natural gas field in the east of Jordan, the Pan-Arab daily ASHARQ AL AWSAT reported Monday. NPC President Fayez Suheimat said the agreements aim at increasing the output of the Risheh gas field, which currently produces 21 million cubic feet of natural gas per day, by benefiting from BP's expertise and financing capabilities.

In the first stage of the project, BP will spend 3 to 4 years exploring the field at a minimum cost of $237 million. If an adequate volume of natural gas is discovered, BP will invest $8-$10 billion for producing 330 million to 1 billion cubic feet of gas from the field on a daily basis, which would be enough to meet Jordan's needs. Suheimat said that the government will receive 50 percent of the gas output generated by the project, while the other 50 percent will go to BP and NPC, according to ASHARQ AL AWSAT. He added that the field's gas output could exceed 50 million cubic feet of natural gas per day within 3 years.
COPYRIGHT 2009 The Middle East Reporter
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Regional Report
Publication:The Daily Middle East Reporter (Beirut, Lebanon)
Date:Oct 27, 2009
Words:201
Previous Article:Saudi-media.
Next Article:Qatar-airport.
Topics:


Related Articles
Huawei to extend Jordan centre's services.
Surviving the international credit crisis: can the Middle East region 'decouple' from a proctracted global recession?
workshop on Energy efficiency.
Trowers & Hamlins advises NPC of Jordan on major concession agreement for exploration and development of its gas resources.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |