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PrintJordan is setting on a Black Gold Mine
News Type: Opinion — Wed Jun 18, 2008 11:39 PM EDT
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It has been always said that Jordan is literally setting on a Mine of Black Gold. To the time of this writing, Jordan is still importing oil from Iraq and other Arab countries of the Arabian Gulf, such as Kuwait and Saudi Arabia. Jordan also imports the Gas from Egypt.
Two of the richest countries of oil are surrounding Jordan. From the east is Saudi Arabia and from the Northern East is Iraq.
Jordan is almost located in the middle of the eastern region of Arabia, with an exposure to a small portion of the Red Sea in the southern part. This means Jordan is low in natural resources then most of the other Arab countries.
On May 2008, recent researches conducted by Shell, the leading American oil company revealed that Jordan has a total of 50 Billion Tons of Oil-Rich Rock which contains about 10% of raw oil (4 Billion Tons of Raw Oil).
I also read about Jordan's preserve of Natural Gas, I recall it's in billions of cubic meters too.
According to the researches, the Jordanian oil-rich rock is one of the finest types in the world and the oil can server Jordan needs of energy for "hundreds" of years to come.
Shell also stated that it requires at least 9 years of work and digging for reaching the maximum amount of production.
As a Jordanian, I feel so relived hearing this. But I wonder if Gas & Oil prices will ever be lowered? Will Jordan ever stop importing of the Gas & the Oil?
I don't know, but I hope so.
Maher Dosoqi
Amman, Jordan.
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