Four companies compete for oil exploration in Syrian water
Syria, Economics, 6/21/2003

The Syrian oil company announced yesterday that four international companies are competing over a contract for exploring oil in the Syrian regional waters.

The company explained that an American company, the British " T. G. S," the Canadian " GSA and the Norway's " Absis Teira" proposed bids for the exploration contract. The winning company will sign the contract with the Syrian oil company which will assume oil exploration and production, either alone or in collaboration with foreign partners.

On May 31, the Syrian oil company signed two oil exploration contracts with two American oil companies Devon Energy and Gulf Sands Petroleum. The contract which was signed for a period of 25 years renewable for other 10 years, states to explore for oil in the oil fields of al-Qamishli area, near the border with Iraq.

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