Jordan signed a USD 32 billion agreement with a Canadian company to produce 50,000 barrels of shale oil to meet rising demands of the country, an official said today.
The deal was signed between ministry of Energy and Mineral Resources and Canadian firm Global Oil Shale Holdings (GOSH).
The government said the agreement will cover nearly 25 percent of the country's oil needs.
Initially, Jordan will be able to produce nearly 8,000 barrels of oil within two years, creating nearly 4,000 direct jobs in two years.
Jordan turned to oil shale to produce its needs of energy resources after facing difficulty paying bills of conventional fuel from the world market. The government says a vast reserve of oil shale in the south allows Jordan to be nearly independent and could export oil after meeting local demands of the 7 million population