Petro-Canada selected to negotiate Syrian gas development project
Petro-Canada and partners have been selected to enter into negotiations with the Syrian Ministry of Petroleum and Mineral Resources to conclude a contract for the North and South Middle Area Gas project.
Negotiations to finalize the terms and conditions of the Production Sharing Contract, with Petro-Canada as operator, will commence immediately, reported a press release.
"We are committed to expanding our existing investment in Syria and this project is an excellent platform from which to grow," said Executive Vice President of the International Business Unit, Peter Kallos. "As long-life reserve assets, Syria's Middle Area Gas fields fit well with our strategy."
The proposed project involves appraising and developing up to 15 gas discoveries. The fields are located in two clusters: one east of the city of Homs and the other southeast of the city of Alleppo. Two gas treatment and separation plants are planned and gas will be destined for the domestic Syrian market.
Petro-Canada is one of Canada's largest oil and gas companies, operating in both the upstream and the downstream sectors of the industry in Canada and internationally. Its partners in the Syrian contract are Occidental Petroleum Corporation and Petrofac. — (menareport.com)
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