Deir-ez-Zor (439)


TERNA Group of Greece will compete with Cham Holding for the country's first Independent Power Plant project in Nassirieh, according to Qussay Kayyali, Minister of Electricity.

In spite of strong interest from local investors, Syria’s industrial cities have yet to attract significant numbers of foreign companies.
The Syrian President has enacted a decree, exempting investment projects located in the Eastern Region from tax and fees for a period of ten years.
The number of pupils who are enrolled in Syrian schools and kindergartens this year stands at 5.3 million, or one fourth of the country’s total population.
Syria has been facing severe power cuts since mid-July as output is failing to cope with growing demand, raising an outcry from the public.

Sinochem, a state-owned Chinese enterprise, is purchasing Emerald Energy, a company that holds 50 percent of the rights over Block 26, northeast of Syria, for an estimated value of USD 878 million.

The Syrian Cabinet approved on August 18 a draft law to exempt investment projects located in the Eastern Region from tax and fees for a period of ten years.
IFA Financial Services will manage the initial public offering of Engineers Holding Company (EHC), a holding firm, the brokerage firm has announced.
Syria's average production of gas stood at 21.2 million cubic meters a day in the first half of 2009, according to the Ministry of Petroleum.
Syria's average production of crude oil declined to 376,852 barrels per day (bpd) in the first half of 2009, according to the Ministry of Petroleum.
IPRMEL, operator of Block 24, has confirmed that it had made an oil find in the Rashid-1 well located 40 km north-northwest of Deir-ez-Zor.

Syria’s 15th private university, the Arab Private University for Science and Technology (AUST), opened its doors on July 16.


Total E&P Syrie has formalized the contract with the General Organization of Oil (GOO) to develop production from the Qahar, Attalah and Tabiyeh fields.


The Kuwait Fund for Arab Economic Development (KFAED) will part finance a project to rehabilitate the Damascus water supply system, according to Nawaf Al-Mhammel, legal counselor at KFAED.


The drought affecting Syria’s north-eastern region is leading to dramatic economic, human and social consequences, according to a joint FAO/WFP assessment mission conducted in May.


Turkey has agreed to increase the water flow from the Euphrates River to Syria and Iraq, according to Turkey’s Foreign Minister, Ahmad Davutoglu, as poor water levels continue to have a severe impact on Syrian farmers.


IPR Mediterranean Exploration Ltd has announced that it made an oil discovery in a well spud in Block 24.


Syria's average production of crude oil stood at 379,049 barrels per day (bpd) in the first quarter of 2009, according to the Ministry of Petroleum.


The OPEC Fund for International Development (OFID) has provided Syria a loan of USD 30 million to part-finance the construction of the Raqqa-Deir-ez-Zor-Hassakeh motorway.


Syrian Pearl Airways will launch its operations early next month, after it receives two BAE 146-300 aircrafts leased from Orion Air, a Spanish charter carrier, according to AbdelRahman Al-Attar, chairman of the company.


CNPC is eyeing Petro-Canada’s Syrian assets, according to Chinese press reports.


The European Investment Bank is providing a loan of EUR 275 million to finance the extension of a power station at Deir Ali, south of Damascus.

Jazeera Airways has announced that it was launching a new route to Deir-ez-Zor.

Dedeman Hotels expects to increase the occupancy rates of the three new hotels it is managing in Syria, according to its country manager, Birol Kaymas.

The Ministry of Tourism is giving new incentives to encourage investment in more remote areas of the country as well as in the largest projects it is offering to investors, according to Ghiath Al-Farrah, head of Touristic projects at the Ministry.

Syria's average production of crude oil stood at 379,494 barrels per day (bpd) in the first three quarters of this year, according to the Ministry of Oil.

The Deir-ez-Zor Chamber of Commerce and Industry held the elections of its Board of Directors earlier this month.
Noor Petroleum Company plans to take over the site where it will build its USD 3.5 billion Syrian refinery in the 2nd half of 2009, according to Mohammad Ibrahim, chairman of the company.
The Syrian President has issued a new law allowing the private sector to invest in salt extraction and mining.
China Petroleum Technology and Development Corporation (CPTDC) will supply USD 50 million worth of drilling equipment and materials to the Syrian Petroleum Company (SPC).

The Social Security Organization (SSO) has invested actively in the last few years in private sector firms.

Syria is moving ahead with plans to build a gas pipeline linking its gas network with the Akkaz field in Iraq.

The Syrian-Kuwaiti Al-Jaz Group will build five plants in Deir-ez-Zor Industrial City (DZIC) at a total cost of SYP 490 million.

The visit of French President Nicolas Sarkozy to Damascus on September 3rd and 4th was concluded with the signing of a number of commercial agreements and memoranda of understanding between French and Syrian companies and institutions.
Syria's average production of crude oil stood at 380,237 barrels per day (bpd) in the first half of this year, according to the Ministry of Oil.

Total E&P has signed three long-term agreements with the Syrian Petroleum Company and the Syrian Gas Company that will further the presence of the French company in the Syrian oil and gas industry.

Noor Petroleum has announced that the feasibility study for the establishment of a refinery in Deir-ez-Zor has been completed.

The Kuwaiti Fund for Arab Economic Development will provide a concessionary loan of USD 56 million to part-finance the construction of a motorway linking Deir-ez-Zor to the Iraqi border.


The International Finance Corporation, a subsidiary of the World Bank, is among the founding shareholders of Noor Islamic Bank, an institution under establishment in Syria.

The Kuwaiti Fund for Arab Economic Development has extended a new loan to Syria to finance the construction of the Deir-ez-Zor-Hassakeh motorway.
Syria’s production of crude oil reached an average of 366,329 barrels a day during the first quarter of this year, according to the Ministry of Oil.

The Central Bank of Syria has licensed one new foreign exchange dealer, putting the total number of money dealers operating in Syria at 8.


The Public Establishment for Electricity Generation and Transmission (PEEGT) is embarking on a large development programme, which will see over 4,500 MW of generating capacity added in the coming three years.


A number of projects offered for development during the conference organized to attract investment to the eastern regions last March have been booked by potential investors, according to the State Planning Commission.


CNPC and the Syrian Government have signed a memorandum of understanding for the construction of an oil refinery with a daily capacity of 100,000 barrels of oil.

AFPC has found gas reserves in the Azraq field, which could potentially be significant.

The Deir-ez-Zor Paper Mill posted sales of SYP 1.6 billion and profits of SYP 26 million in 2007, according to Ahmad Saied, General Manager of Vimpex Al-Nemsawia, the managing firm.


The Ouais Group has won the contract to build the Jasmine Hills Real Estate development, located in the area of Yaafour, near Damascus.


Syria will start importing light crude oil in 2009, according to Omar Al-Hamad, Director-General of the Syrian Petroleum Company (SPC).

The State Planning Commission is organizing a 2-day conference in Deir-ez-Zor to promote investment in the eastern part of Syria.