Minister of Energy and Mineral Resources, Dr. Saleh Al-Kharabsheh, sponsored the signing of a strategic agreement between the Jordan National Petroleum Company (NPC) and the Kuwait Drilling Company (KDC) on Thursday to implement a project for drilling 80 new wells in the Risha Gas Field, with a total cost of $174 million. The project will be executed on a turnkey basis over a period of four years.
The agreement was signed by Eng. Mohammad Al-Khasawneh, Director General of the National Petroleum Company, and Dr. Abdulaziz Al-Rashed, Chairman of Kuwait Drilling Company, in the presence of Eng. Laith Al-Qassem, Chairman of the National Petroleum Company, and Eng. Mohannad Al-Radaideh, Deputy Director General.
In his speech during the signing ceremony, Dr. Al-Kharabsheh affirmed that the agreement represents an important milestone in the path of economic development in the Hashemite Kingdom of Jordan, noting that the project is a key driver for stimulating the national economy in line with the Economic Modernization Vision.
He added that the Ministry continues to support exploration and development efforts across various regions of the Kingdom, pointing out that there has been an expansion in drilling activities carried out by the Ministry and operating companies. The targeted areas now reach nine out of twelve, expressing hope that these efforts will yield positive results that contribute to achieving the sector’s objectives under the Economic Modernization Vision.
For his part, Dr. Al-Rashed thanked the Jordanian government for its trust in Kuwait Drilling Company, describing the signing of the agreement as a reflection of the strong relations between the two countries. He expressed his aspiration for more joint projects aimed at enhancing production and ensuring energy security in the Hashemite Kingdom of Jordan.
Meanwhile, Eng. Laith Al-Qassem, Chairman of the National Petroleum Company, stated that the project continues the company’s efforts to develop the Risha Gas Field through reservoir studies and the drilling of additional wells to increase production rates and improve drilling success ratios. He noted that Kuwait Drilling Company had recently completed drilling 10 new wells under a similar system and demonstrated outstanding performance during the previous project.
In parallel, the National Petroleum Company is working on developing the infrastructure of production facilities to accommodate the additional quantities of natural gas and ensure the readiness of facilities to meet the expected growth in production.
As part of diversifying the uses of natural gas, the company has recently signed several gas sale and purchase agreements with companies that compress and liquefy gas produced from the Risha Field and transport it via specialized tankers to various regions of the Kingdom. This contributes to expanding the base of national gas buyers and stimulating local industries that rely on it.
The project will be self-financed by the National Petroleum Company through revenues from gas sales, in addition to government support amounting to 87 million Jordanian dinars, as part of the company’s strategic plan to increase production levels and boost the contribution of domestic gas to the national energy mix. The goal is to achieve self-sufficiency in natural gas by replacing imported gas with locally produced gas, thereby enhancing energy security.
Through this project, the company also seeks to encourage the establishment of petrochemical, processing, and mining industries that depend on natural gas as a main energy source, thus creating added value for the national economy.
It is noteworthy that Kuwait Drilling Company won the tender after competing with several other firms, securing first place both technically and financially in the final evaluation.
