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SYRIA


CAPITAL: damascus

MONETARY UNIT: syrian pound

REFINING CAPACITY: 242,140 b/d

OIL PRODUCTION: 570,000 b/d

OIL RESERVES: 2.5 billion bbl

GAS RESERVES: 16.9 tcf

In November 1998 Syria`s Minister of Petroleum & Mineral Resources signed a gas development service contract deal with Elf Aquitaine SA and Conoco Inc., each with a 50% interest.

The companies planned to spend $430 million to utilize associated gas currently flared in the Deir ez Zor area and to develop Elf`s Tabiyeh gas condensate discovery.

The project included construction of a gas gathering system and processing plant and a 250-km pipeline to carry an anticipated 150 MMcfd of gas to the national grid near Palmyra. Gas reinjection was expected to be used in Tabiyeh field to optimize condensate recovery during the first years. Conoco was to lead the development and oversee the first 4 years of production, after which Syrian Petroleum Co. would take over as operator.

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