Amman  - The Jordanian government is involved in the final stage of negotiations with an Estonian firm on a multi-billion-dollar project envisaging the production of 35,000 barrels of crude per day from oil shale, an official said Sunday.

The Natural Resources Authority is finalizing an agreement with Eesti Energia under which the Estonian firm is expected to invest an estimated 7 billion dollars in the sector, NRA director Maher Hijazeen said.

"We are looking to sign the agreement within the next few months," he added.

He expected the venture to produce 35,000 barrels of oil daily within the next 10 years and to create thousands of jobs.

Hijazeen also disclosed that the government was close to finalising an oil shale agreement with Jordan Energy and Mining Limited (JEML), a joint Jordanian-British firm.

The JEML, which is expected to invest at least 2 billion dollars in the project, estimates its production in the first stage at about 15,000 barrels per day.

The Jordanian government has already concluded a deal with Royal Dutch Shell for the exploitation of oil shale ores in the Kingdom.

Official statistics put the country's total oil shale deposits at about 40 billion tons.

A switch to power plants operated by oil shale has the potential to reduce Jordan's energy bill by at least 40 per cent, the NRA said.  dpa