- BP's decision to abandon Jordan after it found no technical basis for a gas project at the eastern Risha field leaves the country with limited options to meet its soaring domestic demand, industry sources say.
- Jordan, with few energy sources of its own, had hoped Risha could help cut its dependence on neighbors to fuel its power sector and industries; it had previously said Risha could produce ~330M cf/day of gas by 2015 vs. the current 20M.
- But after spending nearly $240M and drilling two exploration wells, BP said the results were too poor to continue.
- Jordan now may be forced into a politically sensitive deal to buy gas from Israel’s Tamar and Leviathan fields.
From other sites
The Zacks Analyst Blog Highlights: Transocean, Kinder Morgan, BP, Williams Partners and Eni - Press Releasesat Zacks.com (Apr 8, 2015)
at Zacks.com (Mar 26, 2015)
at MarketRealist.com (Mar 23, 2015)
The Zacks Analyst Blog Highlights: Exxon Mobil, Chevron, BP, Royal Dutch Shell and TOTAL - Press Releasesat Zacks.com (Mar 19, 2015)
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