Sources in the Ministry of Petroleum and Mineral Resources said that recent series of meetings in Damascus involving partners in the refinery project al-frqls (the Syrian side – the Iranian side – the Venezuelan side and the Malaysian side) with experts from Nexant American Co. to discuss the final draft report of the feasibility study for the refinery, banking al-frqls prepared by the Nexant Company of America.

Nexant’s experts answered the partners’ questions and have been providing some observations that would improve the economic indicators for the refinery al-frqls. The final report will be presented during the next two months.

the Syrian side was represented in these meetings by two members of the Board of al-frqls refinery Eng. Noureddine al-Makhlouf General manager of the oil refining and distribution of oil derivatives establishment , and Vice Chairman of the refinery Alfrqls Mr. Mohammed Abbas, assistant general manager of Banias Refinery Company and board member of refinery al-frqls.

 
al-Makhlouf expressed his optimistic by going into the refinery from studies into force soon, stressing the seriousness of all partners and in particular the Syrian side.
Syria, Iran , Venezuela and al-Bukhari Malaysian Co. signed in March of 2008, the partnership agreement for the establishment of a refinery for refining crude oil in the eastern city of Homs al-frqls. The project consists of financing and the establishment of an integrated refinery for refining crude oil with a total capacity / 140 / thousand barrels per day cost of the project Estimated / According to the Economic Survey primary / about 2.6 billion dollars.