India and Syria Signed Memorandum On Oil & Gas Cooperation

The memorandum will establish an institutional framework between India’s Ministry of Petroleum and Natural Gas and Syria’s Ministry of Petroleum and Mineral Resources to facilitate and enhance bilateral cooperation in this sector.

ONGC Videsh Limited has participating interests in 36 producing fields of Syria. OVL has also acquired participating interest in one of the exploratory blocks in Syria.

However, the two countries are keen to expand cooperation in several areas particularly in projects relating to Enhanced Oil Recovery or Improved Oil Recovery in the oil fields of Syria and Information Technology. India and Syria will establish joint ventures in Exploration and Production activities, well logging, drilling operations and services.

Meanwhile, the signing of memorandum marks an important landmark in growing ties of cooperation between India and Syria in the Oil and Gas sector.

Author: Ksenia Kochneva