Syria Canada sign Oil Contract agreement
Syria-Canada, Business, 12/1/2004

State-owned Syrian Petroleum Company (S.P.C ) and the Canadian Dublin International Petroleum Company signed a production-sharing contract allowing the Canadian firm to develop two oil fields in the Syrian north eastern city of al-Hasake, Tishreen and Sheikh Mansour fields.

The contract was signed Tuesday by Minister of Oil and Mineral Resources Ibraheem Haddad, Director General of SPC Ahmad Mu'alla and President of the Canadian Company Lucas Londen.

The contract is divided into two phases, in the first phase the Canadian Co. will make a technical assessment of Tishreen Field and drill 2 new oil fields in a two - year duration, and in the second phase it will implement ways of producing oil to support Tishreen Field in 36 month duration.

Following the signing ceremony, Minister Haddad and the President of the Canadian Company told reporters that the two fields are 40 KM to the south of al-Hasake city adding that the area of Tishreen Field is 409 KM, and the area of Sheikh Mansour Field is 263 KM.

They added that the duration of the contract is 20 years, and it could be extended for extra five years upon a request of the contracting company and the approval of the Syrian government.

The output capacity is expected to rise to 96 million barrels in Tishreen Field and 25 million barrels in Sheikh Mansour Field.

Previous Stories:
  Pertro Canada gets oil and gas rights in Syria   (11/14/2003)
  Canada opens consulate in Aleppo   (3/26/1998)

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