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Total Signs Three Oil and Gas Agreements in Syria

Posted on: Friday, 5 September 2008, 06:00 CDT

French oil and gas company Total has signed three oil and gas agreements in Syria in a bid to strengthen its long-term presence in the country.

The first agreement renews the Deir Ez Zor oil license, wholly owned by Total and jointly operated by Total and the Syrian Petroleum Company via the Deir Ez Zor Petroleum Company joint venture. The license was extended for 10 years to 2021, and enables Total to prolong and optimize production from the Jafra, Qahar and Atalla fields.

The second agreement covers enhancement of output from the Tabiyeh gas and condensate field to increase gas deliveries to the domestic market from the Deir Ez Zor plant. This agreement is expected to help Total develop its activities in Syria's gas industry.

Total has also signed a memorandum of understanding with the state-owned Syrian Petroleum Company and the Syrian Gas Company to set up a strategic partnership that will allow the development of common projects between Total and these companies.

Christophe de Margerie, CEO of Total, said: "I am very pleased that these three agreements have been signed. They pave the way for increased co-operation between Total and Syria and bolster our operations in partnership with the national oil companies of this country."

Source: Datamonitor

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