Russian companies to jumpstart oil projects worth $1.6 billion in Syria
Russian oil and gas companies plan to restart projects worth a total of $1.6 billion with Syria. (AFP/File)
Russian oil and gas companies plan to restart projects worth a total of $1.6 billion with Syria, the executive director of the Russian Union of Gas and Oil Industrialists said on Monday.
"If investment risks are eliminated and the country becomes stable, Russia will restart these projects," Gissa Guchetl told the Russian news agency Sputnik.
"If Syria becomes stable, Russian companies that have frozen their activity will be ready to start again within a short period of time in realizing projects that were agreed before the crisis," Guchetl said.
Guchetl, who held a meeting with the Syrian Prime Minister and Petroleum Minister last week, acknowledged Syria's interest in having Russian extraction companies supply crude oil and other oil products to Syria.
After the meeting, Guchetl said that Russian oil companies are interested in investing in Syria. Russia is historically a strong ally of Syria. Russia seeks to develop the capabilities of Syrians and to continue to support them in their crisis.
Syria's civil war has been ongoing since March 2011 and has seen more than 220,000 people killed and over 11 million displaced.
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