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US Firm Signs Offshore Oil Exploration Deal with Syria
From Middle East News LineSyria has signed a contract with a U.S. company as part of an effort to search for additional oil reserves. They would naturally want to replace the oil from Iraq valved off by the Great Satan⢠The contract calls for the U.S. firm, Veritas, to search for crude oil resources off the Mediterranean coast. The cost of the contract was reported at $4 million. Syria better behave. Offshore oil platforms are vulnerable to attack by pissed off neighbors. The contract for the marine survey was signed on Saturday by Syrian Oil Minister Ibrahim Haddad and Veritas chairman Ian Edward. Under the contract, Veritas will have exclusive rights to survey Syrian territorial waters for energy. Hey, have a ball. The results of the maritime oil survey will be made available to international oil companies for a tender to explore and develop energy resources in the Mediterranean. TotalElfFina here is your golden opportunity. Haddad said the congressional passage of the Syrian Accountability Act would not affect the contract. President George Bush has not yet signed the legislation into law. The Syrian govt is noted for overpumping their oil fields in the face of strong recommendations of moderation from oil company petroleum engineers, thus losing much of the reserves in the long term. So many issues, so many nutcases, so slim a chance for success. Posted by: Alaska Paul 2003-12-01 |
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