FINANCIAL NEWS

Syria inks oil exploration deal with Russian firm

28 Dec 2013

(MENAFN) Syria signed a deal with Russian oil and gas firm SoyuzNefteGaz to prospect for oil off Syria’s Mediterranean coast, QNA reported.

The Russian company will finance all costs, estimated at USD90 million.

A spokeswoman for the Syrian natural resources ministry said: “During the first stage, which envisages research and initial prospecting, the contractor [SoyuzNefteGaz] is expected to invest 15 million.”

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