Russia’s Soyuzneftegaz Buys License to Drill in Syria

November 21, 2013

Soyuzneftegaz has obtained a license to drill offshore Syria after five months of talks, Terminal has reported. Experts from Soyuzneftegaz visited Syria several times. Syria’s Minister of Oil and Mineral Resources, Suleiman al-Abbas hopes that Syria will attract more oil and gas companies from Russia and other friendly nations.

Soyuzneftegaz participated in Syrian projects in the past. In 2004, Soyuzneftegaz obtained a license to prospect for oil in blocks 12 and 14. However, the two have not produced any hydrocarbons yet. In 2005, the company acquired from Devon Energy 50% of shares in block 26 in the north-east of Syria. Later on, this asset was integrated into Emerald Energy Plc.

Copyright: Terminal, 2013