Jordan Times. Jordan and Shell are signing an agreement to further the development and potential commercialization of the country’s oil shale resources.
The agreement outlines a three-stage process leading to a commercialization decision in about 10 years.
The first stage includes exploration and research operations. The second stage, dependent upon the outcome of the first, has to do with assessment of explored regions. The third envisions at least three pilot projects in areas that can support commercial quantities of oil.
Prior to the hoped commercial production, [Director of the Jordan Natural Resources Authority Maher Hijazin] said, Shell will invest $340 million in the project and pay the government $150 million over the stages of the scheme.
“This project, if successful, is going to be a large scale one with multibillion-dollar investments in the Kingdom,” he said. “It will change the Kingdom’s face,” he added.