Syrian oil minister: Syria's oil production continues until 2040
Syria, Economics, 6/19/1999

Syrian Minister of oil and mineral resources Muhammad Maher Jamal said last Wednesday " We have precise and good studies indicating that oil production in Syria will continue until the year 2040."

He added we always, in Syria, view the oil industry as a strategic matter. The Minister added in replying to expectations expressed by the Western media saying that the Syrian oil production will end by the year 2010 that this expectation " is groundless," adding that "an evidence on that in that we have a day after the other important companies contracting for oil."

He added as saying " we got new gas discoveries during the two past years" with a range between 30%- 35% of gas reserves discovered during the past years.

The minister indicated the measures adopted by the Syrian government to avoid the adverse consequences of oil prices reduction on the national economy. He added these measures are embodied in taking tough measures to reduce production costs, and in delaying certain projects.

He, in this respect, also spoke about studies to develop Homs and Banias refineries and the possibility of operating the two refineries by gas. A matter which saves huge sums of money.

Previous Stories:
  A campaign in the Syrian press to reform outdated economic laws   (6/18/1999)
  Syrian economy and the GATT   (6/11/1999)
  Special: Oil and the Syrian economy   (6/4/1999)

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