Jordanian Oil Survey Results

A while ago the Jordanian government approved an agreement with Sonoran Energy to study the exploration potential of an oil field east of Jordan’s capital city of Amman.

In latest reports:

“Based on our technical study of the Block we are now confident that there is a sizeable untapped oil resource in this region of Jordan,” said Peter Rosenthal, Sonoran Energy President and CEO. “Not only do we believe the Azraq Block contains oil reserves upwards of 30 million barrels, we believe there is an opportunity for the discovery of new structures that could add significantly to the resource potential. Furthermore, under the PSA Sonoran Energy becomes the operator of the Hamzah oil field, where our immediate target is to apply new technology and significantly enhance production in a relatively short period.” [more]

30 million barrels?

With 97% of Jordan’s energy needs being imported, mixed with increasing global oil prices, this news could not come at a better time.

The NRA (national resource authority) has already issued an open invitation to companies hoping to invest in oil shale, since mid May.

If the 30 million reserves is true then this would put us in the top 50, somewhere between Japan and Chile.

This news comes in addition to 4 oil fields that were sold last July to India’s Videocon group which I blogged about then.


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