Oil Minister: 300 million barrels of new oil discoveries

Eng. Sufian Alao Oil Minister declaring that Syria had achieved during the past three years, discoveries of oil amounting to 300 million barrels a geological reserve by the company Syrian National Petroleum and a number of other foreign companies.

The announcement in a press statement that the geological reserve detected to date amounted to about 3 R. 24 billion barrels of oil and 703 billion cubic meters of gas, a rise in 1990 from an estimated 52 percent in the field of oil and 88 percent in gas field
He explained in previous statements that production Reserve certainly viable production amounted to about 85 t 6 billion barrels of oil extraction returns $ 2 t 28 percent of them produced to date 6 t 4 billion barrels of oil and 405 billion cubic meters of gas produced, including 121 billion cubic meters.
The minister estimated oil reserves remaining to produce the current 25-t 2 billion barrels of oil and 284 billion cubic meters of gas, explaining that the average daily production of about 380 thousand barrels a day in 2007 in accordance with the rates of daily gas production reached 22 million cubic meters Day and the Oil Ministry is planning to maintain this Straight from production in the current year.
He pointed out that the ministry noticed in its expansion in the field of prospecting and exploration to increase reserves and geological detected increased yield extraction advantage of modern technologies in cooperation with specialized international companies have been contracted with about 15 oil companies from various countries to carry out prospecting and exploration for oil and gas are cooperating with a number International companies to develop fields old and use modern technologies to increase the rate of extraction, hoping that these actions to increase the reserve viable production so as to ensure the continued production rates acceptable for several long years to come.
He said that above the previous period witnessed a marked improvement in the consumption of oil products and gas production rose from about 15 million tons in oil equivalent in 2000 to about 24 million tons in the current year which is equivalent to 370 thousand barrels per day and is importing 35 percent of the total request, $ 45 FUEL OIL percent and about 66 percent gas and about 30 percent Viol.
He added that the total cost of the sources of energy consumed in Syria, according to current world prices Tkdrb $ 1200 per ton of diesel and 530 dollars per ton elephants were imported even entirely from external sources to the total cost has reached the limits of 950 billion Syrian pounds while expect revenues to exceed 300 billion Sales LS.
It is noteworthy that Syria is facing a crisis in Syrian oil production decline is the main source of energy currently in Syrian oil production decline from about 630 thousand barrels to less than 400 thousand barrels a day.