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CHAPTER TWO
Developments of Energy Resourrces
of the Natural Resources Authority to promote open petroleum
exploration areas in Jordan to the international oil companies. The
terms state that following- negotiations will be held to conclude a
production sharing agreement to participate in oil exploration within
the area
i
.
Sudan
has signed oil exploration and production sharing deals
with foreign companies on nine blocks, sealing investments of $1
billion. Sudan is struggling to deal with a big loss in oil revenues.
State Oil Minister said Canadian firm Statesman Resources as well
as Chinese, Nigerian, Australian, Brazilian and French companies
signed the agreements, state- owned oil and gas firm Sudapet was
also included in the deals.
Seven blocks were awarded for the first time, while some
companies joined previously- awarded contracts for two other
blocks, the Minister said. Some of the blocks are near the northern
border with Egypt, some are offshore and others are near Kassala in
eastern Sudan and in Khartoum state. The Minister noted that the
initial investments needed for these blocks are $1 billion. It will not
be cash- given to Sudan, but as money that will be invested by those
companies. HE said therewould be no production at the newblocks for
several years while companies carries out magnetic surveys, seismic
data acquisition and drilling of exploratory wells. HE mentioned that
production startup- date can
’
t be decided as there would be several
activities that need to be done towards production that would take
several years. The Minister said the government
’
s share of oil would
depend on data from each block, and the government priority will be
to meet domestic demand and export the surplus. He added that until
i
Energy Business Review, 23/2/2012
