Oil, Gas & Mining
The Ministry of Oil and Mineral Resources has received 23 bids from thirteen different companies for exploration works on the nine blocks offered for tender in the round held last December in Damascus.
Syria is planning to double its oil refining capacity in the coming five years and switch its exports towards refined products, according to Ibrahim Haddad, Minister of Oil and Mineral Resources.
The leading oil companies of China and India have finally agreed to jointly acquire a Canadian firm's petroleum interests in Syria in their first collaborative venture.
Syria has signed a memorandum of understanding with a Russian company for the construction of a USD 2.7 billion refinery and petrochemical plant in Deir-ez-Zor.
Stratic Energy Corporation has announced that it was selling a 31.67% participating interest in the Production Sharing Contract ("PSC") the company had signed with the Syrian Government and the Kuwait Foreign Petroleum Exploration Company (&a...
Syria awarded Russia's Stroytransgaz company two natural gas contracts worth a combined USD 370 million that are expected to be implemented in about two years.
France’s Total has denied that it was currently holding discussions with the Syrian Government for the building of a new refinery.
The decrease in oil production levels is prompting the Syrian government to open new blocks for drilling to Arab and other foreign companies.
Syria is engaged in negotiations with French, Chinese and Russian firms for oil projects worth USD 4.4 billion, Abdallah Dardari, Syria’s deputy PM for economic affairs, said during a conference in Manama.
A subsidiary of giant Russian company Gazprom won a tender to build the third part of the Arab Gas Pipeline that will ship gas from Egypt across Jordan to Syria and Turkey.
Stratic and its partner the Kuwait Foreign Petroleum Exploration Company (KUFPEC) finalised the deal they had initialled last April over the development of Block 17.
ExxonMobil has sold its 49% share in ALIMCO, an oil lubricants joint-venture it operated in Syria with local partners, according to AFP. The shares were sold to Syrian businessmen.
Gulfsands Petroleum has signed an agreement to purchase Devon Energy Corporation's 80% interest in the Block 26, in the northeast of the country, through its purchase of all the capital shares of Devon Syria, Ltd for an undisclosed amount.
Syria: Progress & Potential
BIS Conference Centre, 1 Victoria Street, London SW1
Damascus International Fairground