Jordan, KFAED sign $ 2.1 mn grant agreement

Jordanian government on Monday signed a $ 2.1 million grant agreement with Kuwait Fund for Arab Economic Development to fund technical and economic feasibility studies for development of the exploitation of oil shale in Wadi Abu Hammam district. Jordan''s Minister of Planning and International Cooperation Dr. Jaafar Hassan, said in a statement following the signing of the agreement that the studies aimed at exploring new fields of oil shale and determine their quality, quantity and productivity by attracting international companies interested in investing in oil shale for production of oil. The reserves of oil shale in Jordan reach about 40 billion tons. Hassan noted that the signing of this agreement comes within the framework of the relationship between Jordan and the KFAED.