An agreement on Jordan south block between Zarubezhneft JSC and the Natural Resources Authority of the Hashemite Kingdom of Jordan was signed

Июня 23, 2011

In the course of the visit to Jordan of the President of the Russian Federation Dmitry Medvedev in January 2011 a Protocol between the Ministry of Energy of the Russian Federation and the Ministry of Energy and Natural Resources of Jordan on implementation of oil and gas projects in Jordan was signed.

Pursuant to the Protocol an agreement between Zarubezhneft JSC and the Natural Resources Authority of Jordan with regard to the Jordan south block was signed in May, 2011. Thus one of the points of the Protocol has been fulfilled.
The Agreement was signed by the First deputy General director of Zarubezhneft JSC Viktor S. Gorshenev and Director of the Natural Resources Authority of Jordan Maher Hijazin.
The Agreement provides for carrying out of complex geologic and geophysical studies focused on appraisal of hydrocarbon potential of the Jordan south block. Validity period of the Agreement is 6 months with possibility to prolong it for further 3 months. In case the Russian company obtains promising results and wishes to continue the project, the two sides shall hold negotiations on conclusion of a product sharing agreement.