Wednesday, May 18, 2011
Deutsche Presse-Agentur (dpa)
The Jordanian government signed a memorandum of understanding on Wednesday with the state-owned Russian Oil and Gas Joint Stock Company, Zarubezhneft, for oil exploration in the south eastern Jafr area.
The six-month agreement, which can be extended for another three months, was signed by the Director General of Jordan's Natural Resources Authority, Maher Henazine, and Zarubezhneft Deputy Director General Victor Gorshenev, an official statement said.
Under the accord, the Russian firm will conduct a study of the available technical, geological and geophysical data over 10,416 square kilometers before it submits a report to the government about the chance of oil in the region.
The statement said that if the Russian firm found encouraging signs and wished to continue with the venture, the two sides would hold talks to conclude a production-sharing agreement.
The agreement is part of Jordan's drive to lure global oil firms to explore for oil in the country, Hejazine said during the signing ceremony.
Copyright 2011 dpa Deutsche Presse-Agentur GmbH
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