Anadarko Jordan Co. has signed a production sharing agreement (PSA) covering the 4.2 million acre Safawi block in Northeast Jordan.
The company, a wholly owned unit of Anadarko Petroleum Corp., Houston, agreed to spend at least $5 million during the first 21/2 years of exploration. It plans to drill two stratigraphic holes this year to confirm the presence of "a working petroleum system."
Anadarko owns a 100% working interest in the project but may take partners.
Entry into Jordan is part of an Anadarko exploration and development (E&D) program that involves the U.S. and "select international ventures that offer the chance for significant success."
At present, the company is conducting or participating in E&D in Algeria and Indonesia. It also agreed in 1995 to explore off Eritrea in the Red Sea.
At the end of 1995, about 18% of Anadarko's energy reserves were outside the U.S.
Copyright 1996 Oil & Gas Journal. All Rights Reserved.
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