Oil, Gas & Mining
The Ministry of Petroleum has awarded Tunisia’s Hedi Bouchamaoui Sons (HBS) International Ltd a USD 14 million Exploration and Production contract on Block 22 in the Raqqa Governorate, in the northeast of the country.
Tanganyika Oil Company (TOC) has signed a USD 22 million contract to develop the two fields of Teshreen and Sheikh Mansour.
Tanganyika Oil Company (TOC) has announced that it has been selected by the Syrian Ministry of Oil to begin negotiations on the redevelopment contract of the Teshreen and Sheikh Mansour fields.
Syria's production of crude oil has dropped to below 500,000 barrels of oil a day (b/d) for the first time in over a decade, according to both independent estimates and the Ministry of Oil.
Fields redevelopment works are yielding positive results. Long-term prospects for the Syrian oil industry, however, are a source of debate.
The supply of Syrian gas to Lebanon, due to begin in June has been delayed.
Veritas of the US has won the contract to conduct seismic surveys in Syria's offshore waters.
Egypt and Jordan have inaugurated the completion of the gas pipeline linking their two countries and that will eventually supply Jordan, Syria, Lebanon and Turkey with Egyptian gas.
Gas production is taking an increasing role in Syria's energy policy. More gas reserves are found while the development of the Syrian part of the Arab Gas Pipeline has been Okayed.
A joint private-public sector mineral oils refinery has been inaugurated and will produce over 200,000 barrels of mineral oils a year.
The pullout of the US company from its lone project in Syria, following pressures from its shareholders, remains however a strong option.
Long-term commitment of TOTAL in Syria is in doubt after it fails to clinch the last significant development contract in the Syrian oil & gas industry.
Energy Exploration Technologies Inc. (NXT), has announced that it had completed its trial survey of oil and gas fields operated by SPC.
Tanganyika Oil Company, the operator of the Oude field northeast of Syria, is raising USD 18 million to fund the development of the field.
The Heads of Government of Syria, Lebanon, Jordan and Egypt signed in Amman on 25 January an agreement to build the second phase of the Arab Gas pipeline that will ultimately link their four countries.
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