Syrian Parliament approved ratification of the Convention to extend the period of development with Total and Shell

Syrian Parliament approved the bill containing the ratification of the Convention to extend the period of development and reform of production sharing contract between the Syrian government and the Syrian Oil Company and Total for a period of ten years and become a law .As the parliament approved the draft law containing the ratification of supplements to contracts between the Syrian government and the Syrian Oil Company and Shell and its partners and extend the period of development for a ten years and adjust wages transport crude oil and become a law.

The Ministry of Oil and Mineral Resources and the Syrian Oil Company signed in early September, the Convention on the extension of contracts for oilfield development of afpc with Syria Shell Petroleum Development and its partners for a period of ten years and the Convention on the extension of period of development and reform of the production sharing contract with Total for a period of ten years as well.

The Minister of Oil and Mineral Resources Eng. Sufian Allao told reporters after the signing of three agreements with Total that the three agreements “aimed at cooperation in several key area like exploration for new oil fields on land and sea, as well as the development of old fields using enhanced oil techniques.”

 
The oil minister added that “the extension of the company Total was in accordance with the new conditions, taking into account the change in oil prices and the biggest benefit of the Syrian side.”
Total company has begun its work in Syria since 1988 through operating excellence across the Deir Al-Zour oilcompany (a joint venture Total and the Syrian Oil Company), with a production of a Total of Syria produces 29 thousand barrels of oil per day in 2007 .

 
Syria Oil