APICORP is ready to aid Syria in oil and gas Development

The Arab Petroleum Investment Corporation APICORP expressed on Tuesday readiness to aid Syria in the field of gas, oil and petrochemicals industry.

Executive Chairman and General Director of APICORP Ahmed al-Noueimi said in a meeting with Minister of Oil and Mineral Resources Ibrahim Haddad, "We are ready to help in the field of developing human resources and boosting investments as well as supporting the industry of oil, gas and petrochemicals in addition to upgrading them."

He noted that this help would be either by sharing in arranging and managing finance of relevant projects or by contribution capital needed for these projects.

Haddad for his part, hoped that APCORP would have a large and effective contribution in Syria's projects of Deir-al-Zour refinery in northeast Syria, fertilizers and phosphate acid projects, as well building the oil pipeline from the Jordanian borders to Homs, in addition to building two factories for gas liquefication in Homs, central Syria.

An APICORP delegation is currently visiting Syria to meet with a number of Petroleum companies as well some Syrian banks. It held talks with senior Syrian officials.

The Arab Petroleum Investment Corporation APRICORP was established by the Arab Petroleum Exporting Countries OAPEC in 1975 and its headquartered is in Saudi Arabia. One of its main tasks is to finance Arab energy projects. Syria is member to the APICORP.