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Jordan’s Oil Shale Deposits Contain 500 Billion Barrels of Oil Equivalent

Jordan’s Oil Shale Deposits Contain 500 Billion Barrels of Oil Equivalent

JORDAN has over 0.59 trillion barrels of oil equivalent (boe) of oil-shale reserves, says one of the companies trying to develop the resource. It is an estimate that could revolutionise the country's economy – and slash its dependence on energy imports.

And, suddenly, the resource could be viable at around $65 a barrel, making it profitable in the range in which international oil prices have traded in the past two years. Estonia's state-run Eesti Energia says it can produce Jordan's oil-shale economically, and cleanly, within seven years. _PetroleumEconomist

As with Canada's vast oil sands reasources, the enemy of oil shale development is low oil prices. As long as the price of oil stays in the vicinity of $80 a barrel, a world wide bonanza of new oil and oil-equivalent resources will be unleashed onto world markets -- and OPEC will have little to say about it.

While Jordan's oil shale resources are tiny in comparison to North American oil shale and oil sands resources, there is a significant difference -- the government of Jordan is not handicapped by a philosophy of energy starvation, nor is it under the influence of a faux environmental desire for a great human dieoff.orgy. Jordan will use its resources, if it is economical to do so.

Dr. Maher Hijazin, the Director General of The Natural Resources Authority, added, "The oil shale deposits are strategically important to Jordan's national energy policy. Through this concession, we have put in place the framework for future development of the oil shale industry. We strive to balance the benefits from commercial exploration of Jordan's natural resources with the need to ensure that the projects are conducted in a sustainable and environmentally responsible manner." _Rigzone

By Al Fin




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Leave a comment
  • Anonymous on October 07 2010 said:
    The Jordan Times, in an article mentioning Eesti Energia dated Sept. 17, 2010, sets the figure at "50b tonnes of shale reserves" - equating to 36,000 barrels of shale oil per day. I am unable to locate any press releases from Eesti Energia to support the 500bn boe figure. http://www.jordantimes.com/?news=30115
  • Anonymous on October 07 2010 said:
    The Petroleum Economist quote of 0.59 trillion boe may be optimistic, since it does not come from a technical survey. Total reserves vs. exploitable reserves will always be a matter of debate, and subject to change as the technology changes."Over 65b tonnes" is a frequently quoted figure for total reserves of Jordanian oil shale. At least 50b tonnes of that appears to be in near surface, "easily exploitable" reserves. This may represent closer to 50 billion barrels of oil equivalent, using today's most common technology. Claims of more efficient technologies by the companies involved in development should always be taken with a grain of salt.

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