Eng. Sufian Allaw Minister of Oil and Mineral Resources called on Kuwaiti companies to invest in Syria oil sector, expressing readiness to provide all the facilities for these companies.

Kuwaiti news agency “KUNA” quoted Allaw as saying after talks with a delegation from the General Authority for Investment of Kuwait Petroleum Corporation in Kuwait that “the talks were excellent and we have discussed in which the possible prospects of investment in Syria in the areas of prospecting and exploration for oil and gas refineries and refining as well as in construction of fuel distribution in the field of mineral resources. ”

Allaw added that “Syria welcomes Kuwaiti companies to invest in oil sector, particularly as the areas of the investment exist and are available both in the field of prospecting or exploration or development of the productivity of old fields through the use of modern technologies”, pointing out that the Syrian side, “Listen to the observations of the Kuwaitis their expertise and unique experience, especially in the area of investment to set up refineries in many countries. ”

Allaw said earlier this month that the investments in the energy sector accounts for 25% of the total government investment, pointing out that the Syrian oil production will not be less than 2000 million barrels until 2025.

Allaw added that “The Ministry recently announced the launch of investment in seven oil fields long to develop, develop and increase returns in addition to the announcement of eight (locations) blocks large an area of 74 thousand square kilometers, constituting 40 percent of the area of Syria, dispersed in several areas of Syria ..40 international oil companies to compete. ”

Oil Ministry says it seeks to maintain the stability of the Syrian oil production and to increase over the announcement of the areas of exploration of new and developing existing fields.

As for refining Sector , Allaw said that “there are four projects put up for investment and the ministry was discussing with multiple destinations for investment.”

The first project is to expand and improve the products refining in Banias refinery on the Syrian coast as well as expansion of HRC center of the country The second project is setting up a refinery in Syria – Iran – Venezuelan joint venture 140.000 barrels a day The third project, a refinery in partnership with China a capacity of 100 thousand barrels A fourth project with Kuwait’s Nour with 140 .000 a barrel.

Allaw concluded that “there is a new development to address the issue of heavy oil that Iraq will sign with a company for repair of the line carrier oil from Kirkuk to Banias in Syria inside Iraqi territories.”

Syria-oil