SPS continues its qualification process to explore oil fields in Jordan
The Ministry of Energy and Mineral Resources of that country will receive the documentation provided by Southern Procurement Services in order to advance the qualification process, and evaluate the potential of each area for exploration and exploitation plans
(18-07-2018. Prensa SPS).- Southern Procurement Services (SPS) continues to strengthen its operations in the Middle East, after the Ministry of Energy and Mineral Resources of Jordan received the required documentation to begin tendering processes in oil fields of that country.
Jordanian energy authorities analyzed the operational and financial aspects of Southern Procurement Services so it could be qualified as an authorized company to operate in shale oil wells in that country.
In this process, many companies participated, such as Pakistan Petroleum, Jordan Shale Oil Company and the French multinational Total Oil, which is one of the 15 biggest oil corporations in the world.
Oil fields in Jordan
The next step for Southern Procurement Services will be the submission of a work plan, and the consignment of the required documentation requested by the Ministry of Energy and Mineral Resources of Jordan, in order to establish the area of interest where SPS is planning on working.
Once this process is completed, Jordan authorities will evaluate SPS’ commertial offer, and provide their response with the respective copy of the Production Sharing Agreement to the qualified companies.
The board of directors of Southern Procurement Services pointed out that the shale oil wells and the Arab nation’s contracting model were the main attractives the company found to choose Jordan as its next destination of operations.
“We were evaluating the seismic lines and the wellbores’ behavior, among other elements, in order to determine which area would be the right one to operate and provide services in Jordan,” explained Dirme Laya, SPS’ vice president.
The Production Sharing Agreement (PSA) concede the interested company to assume the mineral and financial risk of its activities, and then recover the investment according to the economic benefit obtained after the beggining of its operations, a policy that is closely related to the unconventional business model on which SPS is based in.
Jordan authorities established the areas of Dead Sea, Jafr, Azraq, North Highlands, Sirhan and West Safawi as the zones with the greatest potential for the exploitation of shale oil, which is one of the most challenging types of oil to extract, and where Southern Procurement Services is employing all its knowledge and experience towards providing the best technical offer of the market.
Southern Procurement Services premise is to guarantee its customers the maximum efficiency in obtaining oil and gas, by providing products supplies and integral, competitive and innovative solutions that are required to improve production processes in the oil, gas and petrochemical industry.
FIN / VDA