Gas, oil exploration deal signed with new investor - THE JORDAN TIMES

Mohammad Ghazal - Mar 29,2016

AMMAN — The National Petroleum Company and IPG, a UK-based company, signed a production sharing agreement on Tuesday to explore for oil and gas in the eastern parts of the Kingdom.

Under the deal, IPG will work on increasing output from Al Risheh gas field to reach around 50 million cubic feet per day during the first year of the contract. Currently, gas output from Al Risheh gas field is around 12-13 million cubic feet per day.

“This is a very important agreement for Jordan to increase production from Al Risheh gas field and explore for oil and gas in Al Safawi area,” Minister of Energy and Mineral Resources Ibrahim Saif said on Tuesday at a press conference to sign the deal.

The four-year agreement can be prolonged for one more year, said the minister.

Egyptian investor and owner of IPG Yehya Al Koumi, whose company was granted concession rights to explore for gas and oil in Al Risheh gas field and Al Safawai area near the borders with Iraq, said the company enjoys international expertise and is home to world-renowned experts in the area.

Cyprus Eyes Jordanian Market | NATURAL GAS EUROPE

September 18th, 2014

Noble Energy, Inc. announced on 3 September the execution of a non-binding Letter of Intent(LOI) to supply natural gas from the Leviathan field, offshore Israel, to the National Electric Power Company Ltd. (NEPCO) of Jordan. Under terms of the LOI, Noble Energy and the Leviathan partners will supply a base gross quantity of 1.6 trillion cubic feet (Tcf) of natural gas from the Leviathan field over a 15-year term. Sales volumes under the agreement are anticipated to begin at a rate of 300 million cubic feet per day. Delivery will occur via pipeline. The price for the natural gas is still to be determined and will be linked to Brent oil prices. The deal, expected to be signed in 2014, still needs regulatory approval from both Jordan and Israel.Noble Energy operates the Leviathan field with a 39.66 percent working interest. Delek Drilling, Avner Oil Exploration and Ratio Oil Exploration (1992) Limited Partnership hold respectively 39.66, 22.67 and 15 percent interest.