Cabinet approved draft law of ratification of development contract extension between the Syrian oil company and Shell

Cabinet in its meeting on Tuesday 21/10, headed by Mohammed Naji Otri Approved a draft law containing the ratification of / 4 / supplements contracts between the Syrian Oil Company and Shell and its partners about the extension of the contracts for development and adjust wages transporting crude oil line With the interests of Syria and to increase its revenue from oil and gas.

Ministry of Oil and Mineral Resources and Syrian Oil Company signed on the extension of contracts for development of the al-Furat fields with Shell Syria for Petroleum Development and its partners for a period of ten years.

Eng. Sufian Allao Minister of Oil and Mineral resources said there had been an agreement with Shell to extend the contract and continue cooperation for 10 additional years, after long negotiations and studies data pointed to the presence of additional quantities of oil can be extracted using modern techniques and experiences which are distinctive. Shell offered to the Syrian Oil Company to produce these al-Furat quantities and rise to the highest possible rates.