Syria’s production of crude oil in the first half of 2008 has exceeded expectations, according to the annual survey of the industry, Oil and Gas Syria 2008.
Increased E&P activity following the arrival in the last four years of a large number of Independent Oil Companies has helped slow down the decline in production, although Syria’s output has fallen by more than a third from its peak level a decade ago.
The Syrian Oil and Gas industry continues, however, to hold very promising prospects. Gas output is expected to increase following the construction of several new gas processing plants, which should start production in the coming two years.
Also, refining is attracting interest from private investors. Several new projects are under study and could increase the country’s refining capacity by 380,000 bpd in the coming years. These findings are among a large number of data and information available in this 36-page industry profile released today by The Syria Report.
Oil and Gas Syria 2008 includes also a historical overview of the industry, a review of the main companies active in the market, an update on the major projects under construction or planned, an oil & gas map and a business directory.