Signing a Syrian-American memorandum of understanding to develop gas fields and increase production
On Tuesday evening, the Syrian Petroleum Company signed a memorandum of understanding with the American companies (ConicoPhillips) and (Novaterra). With the aim of developing the gas sector and increasing production from existing fields, in addition to exploring new fields, to support the electrical system.
The CEO of the Syrian Petroleum Company, Youssef Qiblawi, confirmed, according to the Syrian Arab News Agency, that the memorandum mainly aims to reintroduce ConicoPhillips to work in Syria.
He indicated that under the new memorandum, gas production will increase by 4 to 5 million cubic meters per day within one year of starting work.
Exploring a field New
Qablawi added that the memorandum includes exploring a new field, the development of which will take about 3 years, explaining that the process of developing existing fields will contribute significantly to enhancing the gas supply designated for generating electric power and providing domestic gas.
He pointed out that the Ministry of Energy recently signed an agreement with the company (UCC) to establish new electricity generating stations, noting that these stations require an increase in the quantities of gas that the Syrian Petroleum Company is working to secure through these partnerships.
The CEO of the company expressed (Novaterra Energy) expressed its happiness in following up on the signing of the memorandum, stressing that the two American companies possess great credibility and experience in this field.
Developing the Syrian energy sector
The Syrian official added: "We will make every effort to increase gas production in Syria, and support its efforts to develop the energy sector"
This step comes within the Syrian government’s efforts to increase local gas production and provide the requirements for electrical energy projects, which supports the national economy and improves the services provided to citizens in the country.
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