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- Jordan -Growth in Exports Offsets Drain in Current Account Balance
Jordan -Growth in Exports Offsets Drain in Current Account Balance
- By Oil and Gas Author
- Published 09/6/2006
- Petroleum Pipeline , Offshore Drilling , Liquefied Natural Gas LNG , Exploration and Discoveries , Natural Gas Petroleum , Crude Oil Petroleum
- Unrated
Jordans state Natural Resources Authority (NRA) has been promoting Oil exploration within the country, which has been relatively unexplored until now. TransGlobal Corporation holds a concession for the Wadi Araba area in Western Jordan. Sonoran Energy of the U.S. was awarded exploration rights for an area near Amman in December 2004. Other small independent companies have conducted surveys of other areas as Well, but without yet finding commercial quantities of oil. To help attract foreign investment, the Jordanian government has plans to privatize its oil sector. In October 1995, the country set up the state-owned National Petroleum Co. (NPC) to handle Upstream oil and gas exploration and development. In mid-1999, NPC divested its oil-drilling operation, which now operates as Petra Drilling Company. NPC is still active in the Natural Gas sector.
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Jordan -Growth in Exports Offsets Drain in Current Account Balance
