Bloomberg reports that BP will start drilling exploratory wells at the Risha natural gas deposit in Jordan, near the border with Iraq, in the coming weeks.

Jordanian Energy Ministry spokesman Fayez Abu Gaoud told the agency, “if it is proven that the volume of gas in the field is feasible for commercial purposes, the development of the gas field will begin immediately”.

Initial BP studies show that production at Risha could exceed 330 million cubic feet a day.

BP agreed in October 2009 to join Jordan’s state-owned National Petroleum Co. to explore and develop Risha, which occupies an area of about 7,000 square kilometers (2,700 square miles). The kingdom has agreed with Iraq to jointly develop the Risha field, Iraqi State Minister Ali al-Dabbagh said last March.

Jordan, which fills almost all of its energy needs through imports, hopes to attract $14 billion of investments for renewable energy, oil shale and nuclear power.

(Source: Bloomberg)

The Iraqi housing and rehabilitation minister, Mr Mohammad Darraji, has urged Jordanian construction firms and contractors to enter Iraq, reports Steel Guru.

Jordanians have a real opportunity to contribute to Iraq’s huge rebuilding projects, for which the government has allocated $40 billion in 2012, he said.

Mr Darraji made the remarks during a meeting with Jordanian minister of public works and housing, Mr Yahia Al Kasbi, and leading businessmen in the construction sector.

Describing it as a “reconstruction blueprint unprecedented in the Arab area”, he added that “given their expertise and reputation, Jordanian and other Arab contracting firms can have a tangible role in the Iraqi reconstruction process.”

He went on to assure them that investments in the reconstruction activity would be guaranteed by the Iraqi government.

(Source: Steel Guru)

A Jordanian delegation will visit Iraq next week to discuss the possibility of opening new markets for Jordanian fruits and vegetables in Iraq, according to a Jordanian Ministry of Agriculture statement.

The Jordan Times reports that members of the delegation, which will be headed by the ministry’s secretary general, Radi Tarawneh, will meet with Iraqi officials to discuss establishing a mechanism to export Jordanian produce to Iraq.

(Source: Jordan Times)

The Jordanian news agency Petra, citing Jordan’s Transport Ministry, reports that Iraq has agreed to allow Jordanian trucks to transit its territory to Turkey and Europe.

Iraqi authorities said they will open a route for Jordanian trucks to Turkey within a month after putting in place customs and security procedures.

(Source: Bloomberg)

A railway connecting Syria and Iraq will begin operations next year, according to a report from Kuwait’s KUNA news agency.

In addition, a direct line connecting Syria’s eastern Deir Al-Zor-Al-Bukamal station to Iraq has been completed, the director general of the Syrian rail company has said.

“The rail link is a direct line that will guarantee smooth transport of commodities from Syria toward Iraq,” he said, adding that continuing work in building the Deir Al-Zor-Al-Bukamal station is a part of the project.

Iraq and Syria began the railway project to link both countries and transfer freight from southern Europe to the Gulf region.

The Iraq-Syria project came after confirmation of a Jordanian plan to resurrect a $6 billion railway project linking the port hub of Aqaba in Jordan to Syria, via Amman and Zarqa, including links to Saudi Arabia.

In May 2011 Iraq and Jordan also signed a preliminary agreement to build a railway connecting Baghdad and Aqaba with the aim to strengthening commercial ties.

The railway is expected to be 150 kilometers long, and the trains will travel at speeds of up to 140 kilometers per hour.

(Source: Al Arabiya, KUNA)

Jordan and Iraq agreed on Saturday to ease regulations at Iraqi border posts to facilitate the transport of goods, according to a report from Petra.

A joint committee tasked with easing transport and trade also emphasised the importance of a rail link between the two neighbours and to carry out a memo of understanding signed by the two sides for this purpose.

The committee also discussed removing barriers to access of vegetables, fruits and animal products to the Iraqi market, and screening Jordan imports from Iraq.

Other topics on the agenda were unifying a visa fee for drivers and co-drivers, air transport and increasing the number of flights between the two countries, and removing hurdles to national transporters operating between the countries.

(Source: Petra)

(Picture: Tirbil (Tarbiel) border crossing between Jordan and Anbar)

The Kurdistan Regional Government’s Minister of Trade, Sinan Chalaby [Chalabi], told AKnews that the number of Jordanian companies in Iraqi Kurdistan is expected to double by the end of the year.

Currently 50 Jordanian companies do business in the Kuristan Region. According to Chalabi, this figure is expected to increase to 100 by the end of 2011, now that Jordan has opened its consulate in Erbil.

“Some of the Jordanian businessmen and investors accompanying the Jordanian Prime Minister have already showed willingness to work in Kurdistan in the future”, Minister Chalabi said.

Jordan’s Prime Minister, Marouf al-Bakhit, officially opened the Jordanian consulate in Erbil on Monday, vowing to provide facilities for movement and transportation from and to Jordan.

The Jordanian delegation, consisting of ministers, officials and businessmen, arrived in Erbil on Sunday headed by the Prime Minister, and attended the opening of the Joranian-Kurdistan Economic Forum.

(Source: AKnews, Aswat al-Iraq)

Iraq has agreed to increase oil exports to Jordan by 50%, according to AKnews.

The Iraqi Oil Ministry has signed the agreement with its Jordanian counterpart today to increase oil exports from the Baiji [Bayji, Beiji] refinery (pictured) from 10,000 barrels per day (bpd) to 15,000 bpd.

Falah al-Ameri, director of the State Oil Marketing Organization (SOMO), told the news agency that the agreement also includes an additional 30,000 tonnes of heavy fuel at a promotional price of $88 per ton.

Iraq and Jordan signed an agreement in 2008 whereby Iraq would provide 10,000 bpd to Jordan.

(Source: AKnews)