Syria production maintained

December 16, 2008 DAMASCUS -- Syria has produced an average of 379,494 b/d in the nine months to end-September, of which nearly 205,369 b/d is heavy oil and 174,126 b/d light crude, according to figures released by the government to Syria Oil.

Within this the state-owned Syrian Petroleum Company (SPC) accounted for production of 199,938 b/d of both heavy and light crude, with international players accounting for the remainder. Investment by the SPC in the period was reported at 5.5 billion Syrian lira (US$120 million)—55% of the 2008 annual plan.

Despite rapid decline rates from some of the older fields, Syrian production has held up fairly well through the last year, supported by new developments including Gulfsand's Khurbet East and Tanganyika's (soon to be Sinopec's) Tishrine and Oudeh.