Russia helping Syria develop oil field near site of destroyed nuclear facility

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Dec 04 2009

Russia has agreed to assist Syria in developing its crude oil reserves.

Russia's Tatneft said it would invest $25 million to develop an oil field in eastern Syria. Tatneft identified its target as South Kishma in Dir Al Zour near the Iraqi border and with estimated reserves of 4.89 million tons of oil.

In 2007, the Israel Air Force was said to have destroyed a suspected nuclear weapons facility in Dir Al Zour.

Tatneft reported the discovery of commercial quantities of oil at Block 27, which contains South Kishma, the first well in the project.

Tatneft and the Syrian government have formed a joint venture, Joint Working Co. to develop Block 27.

In March 2009, Tatneft signed a cooperation accord with the stae-owned Syrian Oil Co. for exploration and drilling in Dir Al Zour. Tatneft has been involved in two other projects in the area.

Source : worldtribune.com