VOL. XLVII

No 21

24-May-2004

SYRIA

President Asad Ratifies ONGC, IPR Contract For Block 24

Syrian President Bashar al-Asad has ratified the award of a production-sharing agreement (PSA) to Indias ONGC Videsh and the Texas-based Improved Petroleum Recovery Group (IPR MEES, 26 January). Under the agreement, the foreign partners must spend $7.5mn over the first three years of the contract, reprocessing 1,770km of 2D seismic data, shooting 500km of 2D seismic or the financial equivalent of 3D and...