$98M gas project in Jordan to be signed with Golden Spike: Report

The Jordanian government is due to sign an agreement worth US$98 million with Golden Spike Energy Indonesia Ltd. to explore for natural gas in the still untapped southern side of the Risheh field, The Jordan Times reported Thursday.

Jordan Minister of Energy and Mineral Resources Mohammad Batayneh told the papers, the agreement to be signed in two to three weeks, will allow the company for four years to explore for and produce gas in 750 square kilometers of the 1,500-square-kilometer Risheh field.

Jordanian state-run National Petroleum Company (NPC) has a concession agreement since 1996 to explore for and produce gas in 7,500 square kilometers of the entire Risheh area, said Batayneh.

The new investment project will be a joint venture between the NPC and Golden Spike, said an NPC source.

The gas reserves in the Risheh area are expected to continue covering part of Jordan's energy needs for at least 20 to 30 more years, added the source.(*)