French Total company returns back to Damascus
Syria-France, Business, 12/6/2004

The Syrian minister of oil and mineral resources Ibrahim Haddad disclosed a request asked for by the French Total company to establish a partnership with the Syrian Oil company.

The Syrian minister explained in the conference which he had held in the presence of the Syrian oil company and representatives for the Dublin oil company in Canada that his ministry is studying the French request now.

The French "Total" company has lost a large oil contract in Syria for British, American and Canadian companies. It is believed that this matter led to a general French regret from Syria. The statement of the Syrian minister came on the occasion of Syria's signing an oil contract with the Canadian Dublin company for the promotion of Teshreen and al-Mansour oil fields in al-Hassaka governorate. Cost of investment spending for this contract is estimated at $ 22 million. Worthy mentioning that Dublin company signed with the Syrian government in May of 2003 a sharing contract to develop oil production in one of the Syrian fields by which the company will spend $ 235 million and will be carried out on two phases.

On the decline of oil production, the Syrian minister said that "the decline in oil production in Syria started since 1997 and gradually, and that oil wells in Syria have been producing since the 1970s and the 1980s, and the reduction is in the Deir Ezz Zour and the Euphrates oil companies while the production of the Syrian oil company is stable and we do hope it will be increasing this year over its figures in 2003. The Syrian minister added that "Syria's daily oil production is 450,000 barrels."

Previous Stories:
  A National Institute of Administration opened in Damascus   (2/12/2004)
  Efforts to boost Syrian-French Agriculture relations   (9/6/2003)
  Syrian prime minister receives TOTAL ELF regional director   (3/28/2002)
  Syria to establish trade school in Damascus   (7/17/1998)

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