Syrian Oil and Gaz News

24.3 billion barrels of geological oil reserve confirmed in Syria

Oil and its derivatives is of strategic importance in view of the position it occupied in the national economy and the growing demand in Syria since the 2005 resulted of the sudden raise in the consumption of fuel, particularly diesel, followed by benzene in addition to the growth of electricity demand, as high rates of growth required to meet this growing consumption of fuel keep up with the lack of production of natural gas required for the thermoelectric plants of the gas.

 

A study on the future of power in Syria, prepared by Dr. Ziad Arbash a researcher at the Center for Strategic Studies in Damascus Shows that the current oil production in 2007 reached about 379 thousand barrels per day, which represents the total production of the Syrian PetroleumCompany, which is estimated at 193 thousand barrels per day and operating companies in Syria are al-furat, Deir Al-Zour,Hayan ,Kawkab and Dublin, and the estimated production about 186 thousand barrels per day was recorded for the production of the SPCrecently witnessed a remarkable increase in production for more than three decades, was 160 thousand barrels per day.

 
Arbash expected that in the case of opening other areas for the development of oil or the opening of entirely new areas for exploration are also being since the beginning of 2004 a substantial evolution in the level of oil production, but that a concrete possibility for the development of many fields like Assweedia field , which can increase the production, remains a strategic option in the medium term but in the long run should be to strengthen the role of the Syrian Oil Company in the area of exploration.

 
The consumption of petroleum products has continued growth, rising consumption level of 153 thousand barrels of crude per day in 1990 to more than 349 thousand barrels of crude per day by the end of 2007, Syria entered the stage of the rational use of energy to achieve energy savings in terms of quantities that the consumer of petroleum products increased by increase the fleet of ground vehicles and increase the mileage and the growing needs of home heating in recent years and the waste in the industrial plants which are still used equipment and technically advanced machines.

 
The study emphasizes that the growth of demand for petroleum products will remain high for 2015 and growth rates differed among themselves and derivatives here distinguish between two phases: the first period of sustained growth 2007-2010 and 2011-2015 the second period of stability as it is assumed the first phase of high growth rates of 5 percent due to the increase of the fleet and the continued growth of road Demand for diesel at the rate of growth to stabilize at the end of the second period to become the 4 percent expected to continue because of the gradual liberalization of prices of energy and access to the relative saturation in the consumption of energy products and electricity, especially that gas will play a growing role in generating energy.