Syria approves oil exploration contracts with Russia

Syria’s parliament approved oil exploration and production contracts with two Russain companies in the latest instance of hydrocarbon cooperation between Damascus and Moscow. 

According to State news agency SANA, the two companies, identified as Mercury LLC and Velada LLC, will explore for hydrocarbons in three blocs, including an oilfield in northeastern Syria and a gas field north of Damascus.

Syrian Oil Minister Ali Ghanem said that signing the contracts with Russian firms was in line with a strategy to favor “friendly states that stood by Syria, with Russia and Iran at the forefront.”

The contracts were initially signed at the Damascus International Fair in September. 

Photo by Foreign Policy 

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