Saturday, launched a development foundation in Deir al-Zour by the Syrian government and Syria Shell

Syrian government and Syria Shell will launch on Saturday development Foundation in Deir al-Zour, which aims to fund projects and activities in the area of development and focus on the area of Deir al-Zour, and oil and gas industry in presence of Oil Minister Eng. Sufian Allaw and general manager of Syria Shell and a number of stakeholders.

The Foundation will be funded through a grant from the Shell Company in accordance with the Convention to extend the contracts involved in the production and will work as an independent entity managed by the six members of the Board of Directors who will represent the government and Shell together. The Foundation will aim mainly at ensuring the sustainability development in the region based on the exploitation of natural resources of oil and gas.

 
The Foundation will assess the specific needs of the development in region and ensure that met a manner consistent with the objectives of the Syrian government for development. And adopt their own policies on health and safety, the environment and the working principles and procedures of public procurement contracts and financial procedures and controls and will work closely with the Governorate of Deir al-Zour .

 
The foundation Will also appoint an advisory board of local projects to provide necessary advisory support to inspect the implementation of projects and assess the contribution of these projects in terms of sustainability in the development of the region.

 
The Foundation will begin its work as the first of September 2009 for a period of ten years.
Syria Oil