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FINANCIAL NEWS
Jordan- Enefit to produce oil from oil shale in 2017
10 Sep 2012
(MENAFN) Enefit’s chief, Bassam Qaqeesh, announced that starting 2017, the Estonian-Malaysian consortium will begin producing nearly 40 barrels of oil per day from oil shale in Jordan, reported Xinhua News.
Qaqeesh added that Enefit will set up a number of power plants in the southern part of the Kingdom, with the aim to produce over 450 megawatts of power
The chief noted that the foreign consortium reached agreements with Jordan’s Ministry of Energy and Mineral Resources and the National Electric Power Company early June, which allowed the tendering process for the main engineering, procurement and establishment of the new power plant to start.
It is worth noting that the company will begin establishing the plants next year, and they will start operations in 2016.
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