Jordan, BP Ink Four Agreements To Develop Al- Risheh Gas Field

Published: 25-Oct-2009

The Jordan government and National Petroleum Company have inked four agreements with BP Plc (BP) to develop the Risheh gas field, Jordan News Agency reported. The scope of the agreements involves the development of Al Risheh gas field, which produces around 21 million cubic feet (mcf) of natural gas per day, and increasing the gas production from the field. BP will implement a three year exploration phase, extendable for one more year. BP will infuse $237 million during the exploration phase.

Jordan's Minister of Energy and Mineral Resources Khaldoun Qteishat, "If explorations revealed the project was economically feasible, the BP will spend $ 8-10 billion to develop the field to increase gas production from 330 mcf per day to 1000,000,000 mcf."

He stressed that the quantities produced will be enough to meet the needs of the country with the possibility of exporting.

Jordan National Petroleum Company, Board Chairman Fayez Suheimat, said that the field is likely to produce over 50 mcf during the first three years.

Tell your friend about this article