Strategic $174 million deal signed to drill 80 wells in Risha gas field in Jordan
The National Petroleum Company (NPC) has inked a strategic deal with the Kuwaiti Drilling Company (K.S.C.C) to execute a project involving the drilling of 80 new wells in the Risha gas field, with a total cost of $174 million. The project will be carried out on a turnkey basis over a period of four years, Petra reports.
Signed by NPC’s General Manager Mohammad Al-Khasawneh and Kuwaiti Drilling’s Chairman Abdulaziz Al-Rashed, the agreement was witnessed by Minister of Energy Saleh Kharabsheh, Chairman of the NPC Laith Al-Qassem and Deputy Director General of the NPC Muhannad Radaideh.
Minister Kharabsheh emphasized that the agreement marks a significant milestone in the Kingdom’s economic development journey, noting that the project represents a key driver for boosting the national economy in line with the Economic Modernization Vsion.
He added that the ministry is committed to supporting exploration and development efforts across various regions in the Kingdom, pointing out that the targeted drilling areas have expanded to nine out of twelve regions. He expressed hope that these efforts would yield positive results contributing to achieving the sector’s goals under the modernization vision.
For his part, Al-Rashed thanked the Jordanian government for its confidence in the Kuwaiti Drilling Company, describing the signing as a testament to the strong relations between the two countries. He expressed optimism about further partnerships in new projects aimed at enhancing production and ensuring energy supply security in Jordan.
Al-Qassem affirmed that the project continues NPC's efforts to develop the Risha gas field by conducting reservoir studies and drilling additional wells to increase production rates and improve drilling success rates. He pointed out that the Kuwaiti company recently completed drilling 10 new wells under the same system, delivering outstanding performance during the previous project phase.
The NPC is simultaneously upgrading infrastructure to accommodate increased gas output and meet growing demand.
As part of diversifying natural gas uses, the National Petroleum Company has recently signed several gas sale and purchase agreements with companies that compress and liquefy the gas produced from the Risha field and transport it via specialized tankers to various parts of the Kingdom. This initiative helps expand the national gas buyer base and stimulates local industries dependent on it.
The project is financed independently by the National Petroleum Company through gas sales revenues, alongside government support amounting to JD 87 million, as part of the company’s strategic plan aimed at increasing production levels and raising the contribution of local gas in the national energy mix. This aims to achieve self-sufficiency in natural gas by replacing imported gas with domestic supply, thereby enhancing energy security.
The company also seeks through this project to encourage the establishment of petrochemical, processing, and mining industries that rely on natural gas as a primary energy source, creating added value for the national economy.
Notably, the Kuwaiti Drilling Company secured the contract after outperforming competitors both technically and financially, underscoring its capability and commitment to the project’s success.
As reported previously, the EU funds a €5mln project to rehabilitate the Machaerus archaeological site in Jordan.
