Interview: Syrian-Chinese petroleum cooperation makes remarkable progress: minister (2)

11:18, January 18, 2011      

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He also affirmed his country's plan to manufacture petroleum- related equipment locally in collaboration with the Chinese companies.

"Our present plan is to set up a local petroleum-related equipment corporation with CNPC and other Chinese companies to cover local and regional demand," Allaw said.

In May 2010, CNPC and Shell concluded an agreement under which CNPC acquired a 35 percent share in Syria Shell Petroleum Development (SSPD). The SSPD has share in three production licenses, including Deir-Ez-Zor, Fourth Annex and Ash Sham.

Syrian Ministry of Oil and Mineral resources announced recently that Syria invites international companies to invest in eight new oil blocks and develop old oil fields in Syria.

Syria had its national companies exploring its oil and gas since 1968 until the 1980s, when foreign companies entered the Syrian oil market. These companies helped increase Syrian oil production to some 600,000 BPD in 1996. Oil production in Syria, however, deteriorated gradually to 386,800 BPD in 2010.

Source: Xinhua
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