The project is a joint investment of Jordanian, Kuwaiti and American investors, and it received initial approval from Jordan’s Ministry of Energy. The initial approval stipulates that investors should abide by the terms endorsed by the Cabinet in early 2019, which requires the company to follow proper technical and financial guidelines. The terms do not require the government to present any guarantees to secure raw materials for the refining process.

Investor Sheikh Mishaal Al Sabah noted that the investment is divided into two projects. The first project is an oil refinery that will produce around 150,000 barrels of crude oil per day (bbl/d) for export purposes. The second project is a petrochemical complex.

It is worth noting that the project is expected to provide thousands of local jobs, in addition, it will help transform Jordan into “a source instead of an importer of energy”, the Jordan News Agency, Petra, reported.
Furthermore, a training institute for the youth in the oil and transformative industries will be established in Maan, and it will coincide with the stages of establishing the refinery.

The project’s investors are expected to provide a plot of land for the refinery and for the complex, abiding by the oil derivatives law.