Allaw: Energy Sector needs large investments.. 40% of remained Syrian lands offered for exploration

Eng.Sufian Allaw Minister of oil and Mineral resources said that his Ministry has successful experiences in joining Public and Private sectors. This verbal participation between the Ministry and Syria Shell by establishing al-Furat Oil Company in 1985 in addition to a wide number of participations in oil exploration.

Allaw added that his ministry seeks to develop Banias Refinery by cooperating with Private sector in addition to establishing of Gas Plant in Deir al-Zour.. we need to work in oil investment especially with Arab and foreign companies in the light that Energy Sector needs large investments as well as the mineral resources sector.

Refining field , the Minster said that his ministry work in a cooperation way with private, local , Arab and International sectors to establishing al-Freqles Refinery with contribution of 26 % from Iranian Oil Company,33% of the Venezuelan side,26 % Private Malaysian Company and 15 % from the Syrian Part. In addition to establishing a refinery with China with 35% from Syria and 85% of China. As well as establishing a Refinery in Deir al-Zour in participating with Kuwaiti Nour Company. As a whole the Capital investment by the ministry of 10 billion $.

Allaw said that there are no law or legislative obstacles on the face of establishing adding that the two contracted parts issued by legislative contract the two parts will stick to it.

He said that 40% of Syrian lands remained offered for exploration in addition to the Syrian Regional Water indicating to other projects in Banias and al-Freqles Refineries saying that the Private sector distributing 98% of Oil derivatives.

Syria-oil