Oct 25 2009 |
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Jordan, BP sign agreements to develop Al- Risheh gas field
Amman - The Jordanian government and the National Petroleum Company Sunday signed four agreements with British Petroleum (BP) in the presence of Prime Minister Nader Dahabi to develop the Risheh gas field.The agreements which were signed by the Minister of Energy and Mineral Resources Khaldoun Qteishat entail the development of Al Risheh gas field, which produces around 21 million cubic feet (mcf)of natural gas daily and increasing the amount of gas produced.
Qutaishat said that BP will implement a 3 - year exploration phase, extendable for a fourth year, during which BP would spend $ 237 million.
"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 sufficient to meet the needs of the Kingdom with the possibility of exporting.
Jordan National Petroleum Company , Board Chairman Fayez Suheimat, highlighted the importance of the agreements with the BP , which is the second largest oil company in the world .
Suheimat expected that the field would produce more than 50 mcf during the first three years.
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