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