Shell JOSCO to start Jordan Oil Shale Development Phase-2

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Shell JOSCO to start Jordan Oil Shale Development Phase-2

July 19, 2013

Shell – Estonian Eesti Energia – Karak International Oil to explore and develop Jordan oil shale resources

The Jordan Oil Shale Company (JOSCO), a wholly owned Shell subsidiary, the Estonia company Eesti Energia (Enefit) and Karak International Oil (Karak) from the UK-based Jordan Energy and Mining Ltd, are now moving from the exploration phases of their respective concessions into the production phase of the huge oil shale resources lying in Jordan.

Jordan is recognized to hold the world fourth largest reserves of oil shale after USA, China and Russia with 90 to 100 billion barrels of oil equivalent (boe) in its deposits.

Oil shale differs from the shale oil as it refers to solid hydrocarbons rocks while shale oil designate liquid tight oil trapped in shale, limestone, or sandstone.

Oil shale may also be called black shale, while shale oil might be named light tight oil (LTO).

The exploration of the oil shale started in Jordan in 2006.

Then in 2009, the international oil company (IOC) Shell, was awarded a $500 million concession to start exploration and production of oil shale in Jordan.

To lead this Oil shale Development program, Shell established the Jordan Oil Shale Company (JOSCO) and after the first years of exploration Shell has decided to start its Oil shale Development Phase-2 project.

In parallel, Karak is also planning to run into commercial operations with the development of its Al-Lajjun oil shale project designed by Hatch.