Oil Ministry in 2008 … the completion of oil and gas projects and slow pace of refineries

Ministry of Oil and Mineral Resources during the year 2008 to expand the field of prospecting and exploration to increase oil production and development of existing oil fields and the completion of construction of gas plants.

The ministry sought in 2008 to achieve a set of goals is to increase oil and gas reserves and raise the working class returns to compensate for the low level of production, through the reservoir management of the fields of modern production methods and the introduction of subsidized in return for economic and all fields where oil was discovered and development of modern methods, according to studies economic feasibility, as well as the development of exploratory work by the Syrian Oil Company and a seismic survey and drill exploratory wells in the hope of a new assessment and the drilling of wells in areas where oil discoveries.

The most distinguish vents took place in the field of oil,signig of an agreement to extend the contracts for the development of the Al Furat fields, with the oil company Shell Syria for the development of oil and its partners for a period of ten years on 3/9/2008. In addition to the signing of three agreements with the company’s Total is on 4/9/2008 strategic cooperation framework agreement between the Syrian Oil Company and Total and the Protocol to extend the production-sharing deal between the company and the Syrian Oil Company and Total to develop the gas field and invest Altabih field with the Syrian Gas Company has also signed the Syrian and Chinese governments on 12/11/2008 on the framework convention to provide a soft loan worth 250 million yuan, equivalent to 28 million$ to finance project about the purchase of equipment and rig in favor of the Syrian Oil Company.

In the area of gas production, processing and transportation, is the Arab gas pipeline project the most prominent at that level, is one of the important Arab projects, as links between Egypt, Syria, Jordan, Lebanon and contribute to the transport and marketing of gas from these countries and across to Turkey and Europe has begun on 7-10-2008 Egyptian gas flowed to Syria through the implementation of the Convention on the sale of Egyptian natural gas to Syria, agreements between the Governments of the two countries. The Syrian gas company signed contract with the Stroytransgas Trans Russian gas company on 14/10/2008 to extend the gas pipeline from Aleppo to the Syrian border of Turkey to complete the remaining part of the Arab Gas Pipeline within Syrian territory.

 
The Syrian Gas Company is currently setting up four new plants for the production of gas in Alfrqls in the province of Homs and the central region of the Russian and Canadian companies and the national production capacity up to more than ten million cubic meters of gas per day.

In the area of the refining industry has been signed by Syria, Iran,Venezuela and a group of Malaysian Bukhaari 5-3 / 2008 on the partnership agreement for the establishment of a refinery for refining crude oil with capacity of 140 thousand barrels per day in the east of the city of Homs Alfrqls was also on 4-14-2008 signing of a cooperation agreement to establish an oil refinery in the area abo-Khachab in Deir Al Zour with production capacity of 100 thousand barrels a day between the Oil Ministry and China National Petroleum Corporation / CNBC . International Ltd. The refinery processes, which are estimated to cost two billion U.S. dollars mainly Syrian heavy crude oil or any other appropriate in accordance with European specifications and standards, however, that the Syrian refineries existing development projects and the establishment of new refineries going slowly and may be the cause of the failure to provide adequate funding to develop and cost prohibitive for the establishment of refineries and the instability of world oil prices and many other reasons.

 
Syria Oil