Providing BP with the potential to explore in Jordan
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Trowers & Hamlins, the City and International law firm, has acted as legal advisor to the National Petroleum Company (NPC) of Jordan in the negotiation and structuring of an agreement that will allow BP plc to explore and potentially develop gas resources in the Risha concession in northeast Jordan. The project agreement, which will be submitted to the Jordanian Parliament, was signed in Amman on 25 October 2009.
Exploration programme
BP is seeking to bring its advanced technology and deep expertise to the Risha development. The Risha field, which consists of a complex ‘tight gas’ geological structure, produces approximately 20 million ft3/d of gas at current output. The company has significant expertise in managing tight gas fields around the world, in North America, North Africa and the Middle East. It is hoped that if BP’s exploration programme identifies commercially producible gas reserves, production could reach several hundred million ft3/d.
Legal advice
Trowers and Hamlins provided legal advice to the NPC to develop a project agreement that enabled BP to successfully conclude a farm into the Risha project, whilst maintaining the integrity of NPC’s existing concession.
Read the article online at: https://www.oilfieldtechnology.com/exploration/16112009/providing_bp_with_the_potential_to_explore_in_jordan/
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