Syria denies reports that stocks are depleting

Apr 02, 2002 02:00 AM

Syrian Minister of Petrol and Mining Resources Ibrahim Haddad said that his country produces up to 550,000 bpd of crude oil, denying reports that stocks were depleting. "Syria produces close to 550,000 bpd and consumes between 300,000 and 350, 000 bpd", said Haddad, calling "rumours" information indicating that crude oil production in Syria would diminish.
He said that new oil prospecting operations were under way but that "they have not yet produced results". Proved oil reserves in Syria are estimated at 2.5 bn barrels of crude and international oil experts believe that production will come to an end in 2010.

Haddad also announced the discovery of new natural gas fields with a capacity of 300,000 cm (10.5 mm cf). Natural gas production in Syria amounts to 5.8 bn cmpy.

Source: AFP
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