Jordan Fact Sheet

Jordan Fact Sheet

By Megf Nabulsi in Jordan, Geology, Investment and Development (Files) · Edit doc · Delete

Jordan Fact Sheet 

Government

Official Name:

The Hashemite Kingdom of Jordan

Capital City:

Amman

Administrative Divisions:

12 governorates (muhafazat, singular - muhafazah); Ajlun, Al 'Aqaba, Al Balqa', Al Karak, Al Mafraq, 'Amman, At Tafilah, Az Zarqa', Irbid, Jerash, Ma'an, Madaba

Official Languages:

Arabic and English is widely spoken

Independence Day:

25-May-1946

Form of Government:

Constitutional Monarchy

Head of State:

King ABDALLAH II (since 7 February 1999); Prince HUSSEIN (born 1994), eldest son of King ABDALLAH II, Crown Prince.  

Head of Government:

Prime Minister & Minister of Defence, H.E. Maroof Al Bakhit 

(since 1 February 2011)

Parliament:

120 seats; members elected by popular vote on the basis of proportional representation to serve four-year terms; note - 12 seats are reserved for women and are allocated by a special electoral panel if no women are elected.

Last Elections took place in November 2010.

Legal System:

Based on Islamic law and French codes

International organization participation:

ABEDA, AFESD, AMF, CAEU, FAO, G-77, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, LAS, MIGA, MINUSTAH, MONUC, NAM, OIC, OPCW, OSCE (partner), PCA, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNMEE, UNMIL, UNMIS, UNOCI, UNOMIG, UNRWA, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO

Geography

Size:

Total: 92,300 sq km with 329 sq km water

Location:

Middle East,  31 00 N, 36 00 E

Neighboring Countries:

Iraq 181 km, Palestine   238 km, Saudi Arabia 744 km, Syria 375 km, West Bank 97 km, Egypt is only a fairy ride away

Coastline:

27 km on the Gulf of Aqaba

Highest Point:

1,734 m

Lowest Point (on earth):

Dead Sea at -408 m

People

 Population:

5,980,000 (2010), growing at an annual rate of 2.2%

Society:

Tolerant and welcoming society

Religions:

Sunni Muslim 92%, Christian 6% (majority Greek Orthodox, but some Greek and Roman Catholics, Syrian Orthodox, Coptic Orthodox, Armenian Orthodox, and Protestant denominations), other 2% (several small Shi'a Muslim and Druze populations) (2001 est.)

Languages:

Arabic and English is widely spoken.

Economy 

 Economic System:

Market Economy

Gross Domestic Product at Current  Prices:

16,266.2 JOD million (22,772.7 USD million )

Gross Domestic Product per capita:

2, 979 JOD ( 4,170 USD)

GDP Growth Rate at constant prices:

5.6%

Inflation:

5 %(2010)

GDP per Sector of the Economy (2007):

Agriculture (3%); Industry (17%); Electricity, gas, and water (2%); Constuction (4%), Wholesalers, trade, restaurants, hotels (9%); Transport, storage, and communications (13%) and Services (52%)

Exports:

5,523 million JOD (7,890 million USD)

Main exports: Garments and textiles, pharmaceutical products, jewelry items, electrical appliances, machinery and equipment, furniture, chemicals and allied products, minerals, plastic products.

Main export markets: Arab countries (44%), North America (28%), Asia (21%), EU (3%), other (3%).

Imports:

10,640.1 million JOD (15,200 million USD)

Main Imports: Crude Oil, textiles and garnments, transport equipment, machinary and vegetable products

Main import sources: Arab Countries (33%), EU (30%), Americas (8%), Asia (28%), other (1%).

Climate Average

Hot and dry summers, cool and wet winters. Hottest month, August, 1437C; Coldest month, January, 0-16C; driest months, May-August, 0 mm average rainfall; wettest month, February, 75,5 mm average rainfall.

Currency

Jordanian Dinar (JOD)

 1 JD =100 piastres= 1,000 fils

JOD is pegged to USD (1 JOD= 1.4 USD/ 1 USD= 0.70  JOD)

Time

+ 2 GMT

Source: Central Bank of Jordan 2010, Department of Statistics 2010

Jordanian Petroleum Exploration Basic PSA Conditions and Fiscal Terms:

* All terms, articles and annexes are negotiable, have the same force and effect and when completed the PSA takes the power of law and published in the official Gazette.

* The exploration period lasts about (6) years is divided into two Terms whereas the development period is (25) years. The commitments for each exploration term usually include the drilling of 1 or 2 wells and / or seismic surveys. The contract terminates if no commercial discovery is made by the end of the first or second exploration term. However, contractor could voluntarily relinquish the license at any time if relevant requirements are satisfied.

* Contractor has the exclusive right to conduct petroleum operations in the described area to any delivery points in Jordan. The rights include construction of roads, pipelines, telecommunication systems, landing fields and other facilities.

* NRA shall support and provide every assistant to contractor in obtaining all necessary approvals, licenses, and permissions from relevant Jordanian authorities.

* Contractor shall bear all expenses of petroleum operations and shall look only for cost recovery share, which he is entitled to under the relevant terms of contract.

* The budget for each exploration term is approximately USD (10) millions but compliance with work commitments shall relieve contractor of the requirement to expend the minimum expenditure obligation. All items entered into the country are exempted from duties if required for petroleum operations. The exemptions of all temporary entries shall be guaranteed from a licensed bank in Jordan 200.000 US$.

* Contractor enjoys free currency exchange, free use of land with the right to export all petroleum, which he is entitled to.

* The model contract contains many other articles on relinquishments, conduct of operations, training and production bonuses, Assignment, gas, supply of internal demand and general provisions.

* The annexes to the contract include provisions on area, accounting procedures, tax implementation provisions, form of bank guarantee, performance bond and Parent Company Guarantee.

A full copy of the model contract can be provided to the interested oil companies upon request from:

Middle East Geological Forum Company

www.megf-jo.com

info@megf-jo.com

saudnabulsi@gmail.com

00962777460539