Canada’s Questerre Energy Corporation has signed an MoU with Jordan’s Ministry of Energy and Mineral Resources for the appraisal and development of oil shale acreage in the country
Company officials have said that the initial term of the MoU is for two years and might be extended. The Canadian company expected to spend nearly US$3bn to US$5bn over the two-year initial term.
The MoU covers two blocks spanning 388 sq km in the Isfir-Jafr area, located approximately 200 km south of Amman. To date, a total of 35 core holes have been drilled in these two blocks by the Natural Resources Authority of Jordan. Questerre Energy Corporation is now analysing available data from these wells to develop its work programme.
The programme, which will assess the acreage for potential oil shale development, will include economic viability, geological, geophysical, hydrological studies as well as the feasibility of internal project electrical generation using oil shale.
Depending on the outcome, Questerre Energy Corporation will develop a subsequent work programme that will be conducted during the initial phase of a future concession agreement.
Jordan imports about 96 per cent of its energy needs, since it has virtually no deposits of conventional oil or natural gas. However, it does have large basins of kerogen-based oil shale, which it is ready to harness with the help of major energy companies.
