Petroleum Ministry signs contract with Russian company for offshore oil production

The Syrian Ministry of Petroleum and Mineral Resources signed the „Amrit“ contract with Russian company Soyuzneftegaz for offshore oil drilling, development and production in block no. 2 of Syria’s territorial waters.
The contracts covers oil exploration in the area between Tartous city and Banyas city at a depth of 70 kilometers, covering an overall area of 2,190 square kilometers.
The contract stipulates for beginning with surveys in the area and preparing studies to pinpoint potential drilling sites, with this stage costing over USD 15 million.
The second stage will involve drilling at least one test well and it will cost over USD 75 million, and if the operations are successful, the company will carry out further drilling, development and production operations.
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sana

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follow-up, 26.04.2014

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Syria crisis worries oil companies investing in Mideast
Syria is not a big oil producer but it is located in an oil-rich region, and investors are worried that turmoil there may spread across the Middle East, which pumps a third of the world’s crude oil.
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presstv

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Middle East Files Syria crisis worries oil companies investing in Mideast – P 1

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Middle East Files Syria crisis worries oil companies investing in Mideast – P 2

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