Gulfsands and Emerald start Syria production

Related Companies

Related Indices

Related Sectors

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Tuesday 22 Jul 2008

LONDON (ShareCast) - Gulfsands Petroleum and Emerald Energy started production at the Khurbet East field in Block 26, Syria yesterday, the pair announced Tuesday.

The Khurbet East No.4 well was the first to be connected to the early production facility. The connection of Khurbet East No.5 and Khurbet East No.6 wells, and the re-entry, completion and connection of the No. 2 and No. 3 wells are expected to take place over several weeks.

The Syrian government gave permission to develop the field in February. Both Gulfsands and Emerald expected the site to produce 10,000 barrels of oil a day in the last quarter of 2008.

“The commencement of production of oil is several months ahead of the development schedule contemplated at that time,” said Gulfsands.

“We look forward to further developing the other opportunities in Block 26 in what is a highly prospective and proven hydrocarbon system in Syria."

Each company own a 50% working interest in the block, with Gulfsands acting as the operator.

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).