Syria mulls preferential allotment of exp blocks to Indian cos

By Staff
|
Google Oneindia News

New Delhi, Apr 20 (UNI) Syria will consider India's request for allocating blocks on preferential basis and provide information to the Indian companies about seven off-shore blocks proposed for bidding later this year.

This was decided at a meeting between Minister of Petroleum and Natural Gas Murli Deora and his Syrian counterpart Sufian Al-Alao at Damascus yesterday.

On this occasion, State-run Oil and Natuarl Gas Corporation (ONGC) extended the offer to Syrian Petroleum Company (SPC) for increased oil recovery from their heavy oil fields through techniques such as in-situ combustion, gas and water injection, slim hole drilling, side tracking, production system optimisation and many others.

It will also assist SPC in data interpretation pertaining sub-surface activities. ONGC's offer could help in arresting Syrian oil production decline, which fell from about 6,00,000 barrels per day (bpd) in 2002 to about 4,00,000 bpd at present.

Boosting of itd world class training facilities in India, the ONGCsaid that it can train Syrian engineers and personnel in areas like reservoir management, data interpretation, 3-D seismic survey for greater coverage of exploration acreages in Syria and others.

In refining sector, the IOC and the EIL showed their interests in participating in different opportunities in Syria.

EIL expressed its desire to participe in the upcoming Banias refinery upgradation project, providing PMC services and new refinery projects.

Syria agreed to send the project plans and other terms and conditions proposed for setting up new refineries through JV route with Venezuela (capacity of 1,40,000 bpd), JV with China (Capacity of 70,000 bpd), new refinery with share-holding by Kuwaiti Financial company (1,40,000 bpd).

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