Sources still expect sanctions to be imposed at some stage soon.
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Canadian Firm Leads $750 Million Syrian Charge
US companies in mix despite looming sanctions....
Syria has selected an international group led by Petro-Canada to develop a gas field in the central Palmyra region at an estimated cost of $750 million. The project will also include US independents Occidental and Houston-based Petrofac.
The project will be executed in two stages and produce 315 MMcf/d of non-associated gas over three to four years. It will be the biggest gas project in Syria after the Deir ez-Zor scheme developed jointly by ConocoPhillips and Total.
The announcement came shortly after reports that the US was delaying the imposition of sanctions against Syria that would potentially curb American oil and gas investment, amid concerns about rising Middle East tensions and ahead of the scheduled Mar. 29 Arab summit, which Tunisia postponed.
Sources still expect sanctions to be imposed at some stage soon.
Sources still expect sanctions to be imposed at some stage soon.
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