Recent reports reveal that an oil field will soon begin operations at the Ghour Safi area, in the southern region of the Dead Sea. The Assal-1 oil field, to be run by the American Trans Global-Jordan Company, is the first oil well to be dug in the Dead Sea region in seven years, reports London based Al-Hayat daily. Assal-1 is considered the third deepest oil well in the Kingdom of Jordan.
Projected operations of the field are right on schedule according to authorities, as Jordan signed an agreement with the Houston-based Trans-Global firm in 1995 to open the well at the end of 2001.
Currently, Jordan has few known oil resources, as little exploration has taken place until recently. Local resources satisfy a mere five percent of the nation’s energy needs, which stand at approximately 94,000 barrels per day. As a result, Jordan imports the majority of this amount from Iraq under the UN Oil-for-Food Program.
To improve its energy dependency situation, Jordan's Natural Resources Authority (NRA) has been actively promoting exploration within the country. In October 1995, the NRA signed various agreements with foreign oil companies, including the one leading to the opening of Assal-1, as well as an agreement with Malaysia's Petronas company to explore the region for oil. — (MENA Report)
© 2001 Mena Report (www.menareport.com)
