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Article: Majors give Syria a second look.
- Article from:
- Petroleum Intelligence Weekly
- Article date:
- September 29, 2008
CopyrightCOPYRIGHT 2008 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Syria, hamstrung by US sanctions and steadily declining oil fields, fell off the hydrocarbon map for many international firms a few years ago, but shrinking access to viable acreage and its proximity to stirring oil giant Iraq have given the country a second wind. It can now point to some high-profile endorsements after Royal Dutch Shell and France's Total signed on to two new 10-year oil license extensions earlier this month. Syrian Oil Minister Sufian Allaw said he expects the Shell-led Al-Furat Petroleum Co., which currently produces 115,000-120,000 barrels per day, to produce 150 million-200 million barrels over the 10-year extension period that runs to 2020. Total, he ...