A delegation of executives from Russia’s Zarubezhneft state-owned oil company flew to Syria Saturday to finalize an agreement to establish a joint oil and gas firm. Called Amrit, the new company, formed by the Russian firm and the Syrian Oil Company, will carry out geophysical surveys, drilling and development, reported Itar-Tass .
The Syrian Oil Company was established by the state in 1985 as a joint venture stock company. It was launched in response to oil discoveries by foreign companies in the Deir Ez Zor area. The company produced 400,000 barrels of crude daily. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
