Daily Brief

Offshore Oil Exploration Deal Deepens Russia-Syria Ties

January 2, 2014
| Energy
| Middle East and North Africa, Russia and Central Asia

Communist party members hold a portrait of Syrian President
Assad in Moscow, 12 Sept. 2013.(EPA/YURI KOCHETKOV) 

 
 
The Syrian government signed a 25-year exploration and development agreement with the Russian state-owned energy company Soyuzneftegaz last week to exploit its offshore oil and natural gas reserves . . . Syrian Oil Minister Suleiman Abbas hailed the deal for the 845-square mile bloc, which will extend 45 miles into the Mediterranean Sea, as “a continuation of the fruitful cooperation” between Damascus and Moscow . . . Syria has seen its oil production decline over 50 percent since the country’s civil war began in March 2011 . . . the contract, which covers territory firmly within loyalist territory, sees the Russian government spending$90 million for drilling and surveying . . . the deal gives Syrian President Bashar al Assad another lifeline thanks to the much-needed money . . . the agreement also gives the regime a diplomatic boost by reaffirming Russia’s confidence in the country.


Login or Create New Account
Email Address:
Password:
New to LIGNET? Create New Account
GET FREE Intelligence Reports

LIGNET provides you with actionable intelligence and in-depth analyses from seasoned insiders including senior CIA officials, presidential advisors, ambassadors, and more.

 
Sign Up for
FREE Intelligence Reports!
 
 
Join Now
Already have an account?
Click here to log in.

 
Join Now
Knowledge is Power
Only if You Access it!
Upgrade to a full access account and get the official CIA World Fact Book 2014 FREE!
Upgrade Now
FREE CIA World Factbook 2013
 
 
What is LIGNET?
Powered by Newsmax
LIGNET is registered in the U.S. Patent and Trademark Office. Langley Intelligence Group Network is registered in the U.S. Patent and Trademark Office.