'The MoU will enable the company to start conducting exploration studies in the northern and southern parts of the 11,000-square-kilometre Wadi Sarhan area,' said NFG chief executive John Cornelius. 'We are looking for both gas and oil although we are anticipating a gas find.'

The first exploration stage is expected to cost about $10-15 million. The government of Jordan will assume no risk in exploration as it will only share in production profits.