Syrian offshore gas exploration will begin in early 2019, the country’s oil minister said, Syrian newspaper al-Watan reported on Dec. 13.
Oil and mineral resources Minister Ali Ghanem said contracts for five offshore blocks had been signed with “friendly countries”. The report did not say which countries or companies were involved.
He also said Syria has an estimated 1,250 billion cubic meters of offshore gas reserves. The report did not say when or how the Syrian government had appraised the reserves.
In 2013, Russian energy firm Soyuzneftegaz signed the first offshore exploration contract with Syria for Block 2. But in 2015, it said it would not go ahead with the project because of Syria’s conflict—now in its seventh year.
In comments made to the Syrian parliament on Dec. 12 and reported by al-Watan on Dec. 13, Ghanem said Syria aims to produce 19 million cubic meters a day (cu. m/d) of gas by the end of 2018 and 24.5 million cu. m/d by the end of 2019.
He also said Syria aims to produce 70,000 barrels per day (bbl/d) of oil by the end of 2018 and 219,000 bbl/d by the end of 2019.
The war in Syria meant the government lost control of the majority of Syria’s onshore oil and gas fields, but many have been recaptured as a result of advances made against Islamic State in recent months.
This has enabled the government to produce more power.
Recommended Reading
Apollo to Buy, Take Private U.S. Silica in $1.85B Deal
2024-04-26 - Apollo will purchase U.S. Silica Holdings at a time when service companies are responding to rampant E&P consolidation by conducting their own M&A.
Deep Well Services, CNX Launch JV AutoSep Technologies
2024-04-25 - AutoSep Technologies, a joint venture between Deep Well Services and CNX Resources, will provide automated conventional flowback operations to the oil and gas industry.
EQT Sees Clear Path to $5B in Potential Divestments
2024-04-24 - EQT Corp. executives said that an April deal with Equinor has been a catalyst for talks with potential buyers as the company looks to shed debt for its Equitrans Midstream acquisition.
Matador Hoards Dry Powder for Potential M&A, Adds Delaware Acreage
2024-04-24 - Delaware-focused E&P Matador Resources is growing oil production, expanding midstream capacity, keeping debt low and hunting for M&A opportunities.
TotalEnergies, Vanguard Renewables Form RNG JV in US
2024-04-24 - Total Energies and Vanguard Renewable’s equally owned joint venture initially aims to advance 10 RNG projects into construction during the next 12 months.