Apr 23 2012 |
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IPR Continued Operations In Syria In 2011
IPR Continued Operations In Syria In 2011
IPR of the US announced in its newsletter IPR Gazette for December 2011 that its wholly-owned subsidiary IPR Mediterranean Exploration Ltd (IPRMEL) continued during the year to operate in Block 24 in Syria and to develop newly-discovered structures, despite the political challenges in the country. IPR added that during 2011 “five drilling rigs and two completion units were in constant operation, with 3D seismic acquired over the Rashid area.” It also noted that in the Abu Khashab area five wells – three exploratory, one appraisal and one development – had been successfully drilled. Hydrocarbons were found commercially in the reservoirs of Chilou, Lower Dibbane, Upper Dibbane, Jeribe and Transition Zone. IPR said that a development plan for Abu Khashab in the Panhandle area has been submitted to the Syrian government for approval and that development of the new structures is set to start in 2012, after obtaining government approval.
IPR, operator, has a 40% stake in the production sharing agreement with Syria’s General Petroleum Company (GPC) in Block 24 and the minority partner is India’s ONGC. The three have set up al-Rashid Petroleum Company to develop the discoveries (MEES, 15 August 2011). While IPR has decided to continue operations in Syria which is currently subjected to Western sanctions, other main producers from Western countries, such as Shell, Total and Gulfsands Petroleum have decided to suspend their operations and exit Syria because of the sanctions.
© Copyright MEES 2012.
© Copyright Zawya. All Rights Reserved.
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