Oil shale in Jordan

[BLACKEAGLE]

Jordan (as a non-producing oil country) imports 97% of its energy needs coupled with the impact of the current rising oil prices. The need for developing our indigenous energy resources (i.e. Oil shale) sets as a high priority on the national agenda of the Government of Jordan. More than 65 Billion tons have been recorded over all Jordan of which 50 billion tons are located incentral of Jordan. Jordan is ranked as 8th country among 37 countries in the world shale oil reserves. Oil shale in central of Jordan is characterized by huge reserves relatively close to each other, good quality offering favorable mining conditions such as Shallow and suitable for surface mining, Stripping ratio is low (1:1 in general), beds are horizontal and structurally undisturbed, soft to moderate overburden rocks, located in remote or thinly populated areas and have good roads connected with asphalted highways. During the last 28 years, Natural Resources Authority (NRA) has been carrying out extensive geological studies to determine the oil shale quantities and qualities in Jordan. Moreover, NRA in cooperation with many foreign companies, institutes and organizations from many countries in the world carried out technical and prefeasibility studies on oil shale for oil extraction and power generation. Based on the mentioned facts, there is a very good opportunity to invest in oil shale as a source of energy whether to produce oil or to generate electricity.

Oil shale is possibly the most abundant natural energy resource in Jordan although it is not yet fully explored. The responsible exploration and development of Jordan’s oil shale resources are an integral part of the country’s energy master plan.

The Jordan Oil Shale Company (“JOSCo”) is a company registered in Jordan in 2009 to explore for and, if successful, develop and produce from, those oil shale resources under the country’s surface.

With the long-term aim of utilising proprietary ICP technology, JOSCo will focus on the deeper layers of Jordanian oil shale that would not otherwise be viable using currently available oil shale technologies such as surface retort or direct combustion.
Jordan Oil Shale Energy Company (JOSCO) Journey | Jordan Oil Shale Resources - JOSCO

We are going to be an oil country!

 

[BLACKEAGLE]

those oil reserves would cover domestic demands as well as exportation for the next 100 years. the most important thing we would have cheap gasoline, do you believe guys that we fill up an average car with 6 celanders for 60 JOD= $90! this is just unbelievable!

 

[Al-Otaibi]

Great news to hear so. Another good thing to add, the oil shale recovery technologies are taking an exponential rate in development. Meaning in the near future, these unconventional resources will be recoverable at even higher rates. Congrats Jordan and see you soon enshallah one of the world’s strongest economies.

 

[yyetttt]

Nice Oil prices going down

 

[VelocuR]

Great going, keep it up.

 

[Skorpian]

Congratulations to our Jordanian brothers.

 

[BLACKEAGLE]

Oil shale is Jordan’s saviour — int’l expert


AMMAN –– Oil shale is the “saviour” of Jordan’s economy, according to international oil expert Mamdouh Salameh, who warned that surging global oil prices may spark a larger financial problem for the Kingdom within few years.

In a lecture at the Jordan Engineers Association on Wednesday evening, Salameh, a World Bank consultant on oil and energy, indicated that Jordan’s oil shale deposits exceed 50 billion tonnes, 10 per cent of which can be extracted.

The utilised quantities can generate around 35 billion barrels, which he noted is larger than the US oil reserves.

“Jordan is not an oil-poor country. But it needs the political will and transparency to extract these large deposits,” Salameh said, elaborating that the cost of extracting oil shale in Jordan would be around $1 billion, which is only 22 per cent of the Kingdom’s $4.8 billion oil imports bill.

Responding to a question on the environmental impact of oil shale extraction, the economist played down environmental consequences, adding the “environment should be a secondary issue when it comes to Jordan’s economic and energy future”.

He indicated that the Kingdom’s oil consumption in 2012 is set to increase to 150,000 barrels per day (bpd) from 147,000bpd in 2011.

The rise in consumption will push up oil imports bill to over $6 billion this year, with the price to be based on $110 per barrel, to represent around 28 per cent of the gross domestic product (GDP).

The projected GDP for 2012 in current prices is $21.6 billion, Salameh said, citing statistics of the Central Bank of Jordan and international financial organisations.

Pointing out that in 2015, when oil shale extraction is expected to start, Jordan may export up to 3,000bpd, ending decades-long negative balance of payments.

Oil exports are projected to generate around $8.5 billion in 2015, according to Salameh, who expected international oil prices to reach $150 per barrel as increasing global demand is expected to outweigh supply.

In 2016 and 2017, the expert expected oil prices to touch the $160 per barrel generating over $14 billion for Jordan in exports.

Salameh is a technical expert with the United Nations Industrial Development Organisation in Vienna. He holds a doctorate in economics specialising in the economics and geopolitics of oil and energy and a postgraduate diploma in industrial management and marketing.

He has presented papers to numerous international energy conferences on the economics and geopolitics of oil and energy and has been frequently invited to lecture on these topics at universities around the world.

Oil shale is Jordan

 

[jackyy]

Great, Uncle Sam has one more country to invade.Don't know if it is good for Jordan or not..

 

[BLACKEAGLE]

Great, Uncle Sam has one more country to invade.Don't know if it is good for Jordan or not..

Absolutely a good thing as those conspiracy theories don't really exist but in your heads.

 

[Cheetah786]

congratulations To the People Of Jordan hope fully this will help eradicate Poverty and money will be used to better the life of people of Jordan.

 

[Dizer]

Bad news for neighbours I guess.

What was all the recent fuss about in Jordan for petrol and gas recently, when they have all these big oil reserves.

 

[BLACKEAGLE]

Bad news for neighbours I guess.

What was all the recent fuss about in Jordan for petrol and gas recently, when they have all these big oil reserves.

Which neighbors? It is only bad news for Israel as Jordan will be able to build even a stronger army and heading way more into self sufficiency in the military domain which will add more strength to Iraq and GCC as well as Syria.

 

[A.Rafay]

Great discovery! good work!

 

[Dizer]

Which neighbors? It is only bad news for Israel as Jordan will be able to build even a stronger army and heading way more into self sufficiency in the military domain which will add more strength to Iraq and GCC as well as Syria.

Bad news for Iraq and the gulf region, because oil prices will go down.. neighbours will be forced to sell barrels at a lower cost because there's more availability of oil and higher competition.

Anyways, I'm happy for Jordan!..even though this will have an effect on Iraq, oil will last us till judgment day.

 

[PteX]

Which neighbors? It is only bad news for Israel as Jordan will be able to build even a stronger army and heading way more into self sufficiency in the military domain which will add more strength to Iraq and GCC as well as Syria.

Bad news for Israel? You enjoy glorifying yourself, don't you, Arab?