Friday, March 29, 2013

Syria Reviews with Russian and China Opportunities for Oil and Gas Exploration in Territorial Waters

DAMASCUS, (SANA)- Minister of Petroleum and Mineral Resources, Suleiman al-Abbas, reviewed with Ambassadors of Russia and China in Damascus the investment opportunities for oil and gas exploration in open areas and Syrian territorial waters. 

In separate meetings with the two ambassadors on Thursday, al-Abbas discussed cooperation relations between the Oil Ministry and the Russian and Chinese companies in oil and gas exploration and developing existing fields to increase productivity and import of oil industry equipment. 

The Minister indicated the existence of interesting new oil discoveries in Egypt, Palestine, Cyprus and Lebanon, referring to a report issued by the United States Geological Survey on estimates of the potentials available at Levantine Basin in eastern Mediterranean which stretches from Palestine in the south to Lattakia in the north reaching Cyprus in the west. 

Al-Abbas clarified that this Basin was estimated to contain potential reserves of 3,455 billion square meter of gas, voicing the Ministry's desire to cooperate with the Russian and Chinese companies in sea exploration. 

For their parts, the Russian and Chinese ambassadors stressed the deep cooperation relations between their countries and Syria in all fields, particularly the oil and gas fields, expressing hope to upgrade this cooperation to the level of political cooperation. 

H. Said

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