Energy Ministry, Al-Majarrah For Oil Shale Com. Sign Mou For...| MENAFN.COM

Saturday, 04 February 2023 12:48 GMT

Energy Ministry, Al-Majarrah For Oil Shale Com. Sign Mou For Oil Shale Exploitation


(MENAFN- Jordan News Agency)


Amman, Jan. 23 (Petra) -- The Ministry of Energy and Mineral Resources and Al-Majarrah for Oil Shale and Natural Resources Company on Monday signed a memorandum of understanding (MoU) to exploit oil shale on a 15-square-kilometer plot of land in the southern Lajjun area.
Minister Saleh Kharabsheh and Al-Majarrah's Director-General Imad Fakhoury inked the deal in the presence of a number of ministry officials as well as the company's chairman Louie Oumeish and Board members Samir Ayyash and Mohammad Alzoubi.
In remarks following the signing ceremony, Kharabsheh emphasized the significance of the deal and noted that the ministry is placing a particular emphasis on mineral resources because of the role they play in creating economic value and increasing employment opportunities in the exploration and mining sectors.
He emphasized the need for the company to get to work as soon as possible in order to generate results that can be used in the project's subsequent phases. The project calls for the company to carry out an exploratory program lasting two years, after which it will present an economic feasibility study for oil retorting using oil shale.
According to Kharabsheh, Jordan's mining industry is experiencing a 'quantum leap' after the ministry signed seven MOUs in 2022 focusing on manufacturing industries to establish Jordan as a major player in the regional and global mining industry.
The Economic Modernization Vision defined this sector as having a high industrial value, and he continued by noting that efforts are being made to double the mining sector's contribution to the GDP. He said that today's deal initiative is consistent with these efforts.
Fakhoury has stated that the company will begin economic feasibility studies via exploration work in the Lajjun region on a land area of 15 square kilometers to exploit oil shale via retiring technology in consortium with the international company Enefit. He emphasized the project's significance in creating new employment opportunities for skilled Jordanians.
He said a Production Sharing agreement will be signed after the feasibility studies were completed. He lauded the Ministry of Energy and Mineral Resources for helping the company get to the memorandum of understanding by providing guidance and assistance.

MENAFN23012023000117011021ID1105468942


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.