Gulf Oil and Gas accountACCOUNT

Jordanian Government Cabinet Endorses Sonoran Energy PSA

Source: www.gulfoilandgas.com 9/28/2005, Location: Middle East

Share |
Sonoran Energy, Inc. has finalized the terms of a Production Sharing Agreement (PSA) with the Natural Resources Authority (NRA) of Jordan. The terms of the PSA for the exploration and development of the Azraq Block have been endorsed by the Jordanian Government Cabinet. The PSA will be passed to the Jordanian Parliament for formal approval and ratification in its next session, leading to the signature by His Majesty King Abdullah II, King of Jordan.

In addition to the exploration and development program Sonoran Energy will also take over operation of the existing producing wells in the Azraq Block's Hamza oil field.

"The Azraq Block lies in a proven oil play fairway that we consider to be vastly under explored, particularly with respect to modern exploration and development techniques. Further, the results of Sonoran Energy's mapping of re-processed 2D seismic data has revealed the presence of additional structures and potential new plays within the Block," said Peter Rosenthal, Sonoran Energy President and CEO.

"The NRA looks forward to the start of this Production Sharing Agreement, the first to be signed by Jordan in eight years", said Dr. Maher Hijazin, Director General of the National Resources Authority of Jordan. "After working with the professional team at Sonoran Energy over the past several months we are confident that the Company has the technical and financial capability to exploit the full potential of the Azraq Block, including boosting the very modest production of the Hamza field"

Following formal ratification of the PSA by the Jordanian Parliament, Sonoran Energy intends to commence an aggressive evaluation program focusing both on exploration and the potential to boost production from the existing wells and facilities. This program will involve the acquisition of 3D seismic data and the drilling of two exploration wells in addition to a number of technical studies.

The Azraq Block which is located east of the city of Amman, is approximately 11,250 sq. km. in size and contains the Hamza oil field, which has been producing since 1985. The Hamza field lies in the eastern part of the Block bordering Saudi Arabia and containing the Azraq-Sirhan Graben, which is mature for oil generation.

The primary reservoir in the field is a fractured carbonate that has been produced through a limited number of vertical wells. The last well on the field was drilled in 1989 on 2D seismic data. At one stage the field was flowing over 400 barrels of oil per day (bopd) but it is now producing around 30-40 bopd. Since its discovery in 1984, total oil production from Hamza is just under 1 million barrels of sweet oil. This is currently transported by truck to a refinery on the outskirts of Amman.

Exploration News in Jordan >>

Brazil >>  9/23/2016 - Brazil is likely to hold its 14th round of oil rights concession auction and its second-ever auction of sub-salt production sharing rights at the same...
Egypt >>  9/22/2016 - Eni upgraded the field potential of Baltim South West to 1 trillion cubic feet (Tcf) of gas in place, following the results of the appraisal well Balt...

Russia >>  9/22/2016 - In the course of geological exploration of the Kirinsky prospect in the Sea of Okhotsk, a prospecting and appraisal well was drilled in the Yuzhno-Lun...
Russia >>  9/19/2016 - Russia's GazpromNeft, the oil arm of state gas firm Gazprom, plans to launch its Messoyakha oil field within weeks, a senior executive said, adding to...

Tunisia >>  9/19/2016 - Eni has successfully resumed exploration activities onshore Tunisia in the Sahara desert, approximately 700 kilometers south of Tunis. Eni has just co...
Canada >>  9/16/2016 - Corridor Resources Inc. announced an update to its operations. The Canada-Newfoundland and Labrador Offshore Petroleum Board (“C-NLOPB”) has announce...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Jordan Oil & Gas 1 >> 

More News

 

Oil & Gas Companies in Jordan >>


Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.