Russian Company to Explore Syrian oil in Territorial Waters Soon

Economy & Aftermath

DAMASCUS,(ST)_ In its weekly session, the Cabinet yesterday approved the proposal of the Economic Commission provided for approving results of negotiations between the Ministry of Petroleum and the Russian ” Soyuz Naftagaz ” on exploration and prospecting for oil and gas in the Syrian territorial waters .

On this issue, the Minister of Oil and Mineral Resources Suleiman Abbas stressed in a telephone call with the Syrian Arab TV that this agreement is of a paramount importance and a major challenge , especially in the current circumstances experienced by Syria, adding that the company will start work in the survey and exploration processes, immediately after the signing of the contract , which is expected within few days .

Abbas noted that the recommendation of the Economic Committee, approved by the cabinet yesterday came as a result of negotiations with the Russian company , lasted for about five months during visits carried out by experts from the Russian company to Syria for several times , during which negotiations were held and resulted in reaching quantitative results for a good business .

Abbas considered that this agreement will encourage companies in friendly countries especially the Russian ones to come to Syria and make investments and projects in oil and gas exploration operations on land and sea alike.

 

T. Fateh

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