Jordan Times
Wednesday, November 9, 2005
Government to sign PSA with US company for oil exploration
AMMAN (Petra) — The Cabinet agreed on Tuesday to sign a production-sharing agreement (PSA) with US energy company Sonoran to conduct oil exploration in Azraq area. The agreement came after several meetings between the American company and the government. According to Alaa Nuseibah, executive vice president of Middle East, North Africa and Caspian Operation for Sonoran Energy, the Cabinet has approved all the regulations and the conditions of the PSA proposal which was submitted by Sonoran earlier this year.