Saudi Arabia: Jordan oil shale deal

Saudi Arabian Corporation for Oil Shale (Sacos) has reiterated its commitment to the Jordanian shale oil industry by signing a $2bn, 40-year concession to develop oil shale reserves in Attarat Umm Ghadran. It was one of a pair of deals signed on 14 February; the other covers reserves in the Lajoun region and was signed with Karak International Oil (KIO), a subsidiary of UK-based Kerogen Shale. Both Sacos and KIO are now looking for financiers to support their projects, Jordan’s official Petra news agency reported.