Middle East Economic Survey

VOL. XLIX

No 20

15-May-2006

SYRIA

Marathon Signs PSC With Syria Despite Shadow Of Expanded Sanctions

Marathon Oil Company (a wholly-owned subsidiary of Marathon Oil Corporation), together with the Syrian Petroleum Company (SPC) and the Syrian Gas Company (SGC) on 8 May signed a new production-sharing contract (PSC) covering the development of two fields, Ash-Shaer and Cherrife, in the Palmyra region of Syria. Although the two are known to have both oil and gas reserves,...