World of Oil

Syria awards tract rights to Canadian firm Calgary-based Loon Energy said that the Ministry of Petroleum and Mineral Resources of Syria has awarded the firm the rights to negotiate a PSA for 2.5-million-acre (3,900-sq-mi) Block 9. The tract is in northwestern Syria, on the northern edge of the hydrocarbon-rich Homs sub-basin. The area contains some of Syria’s major, light oil and gas fields, including Cherrife Da, Ash Shaer Da, Palmyra and Al Rasem. According to Loon, the block is under-explored and has only six wells, the most recent of which was drilled 10 years ago. Separately, Emerald Energy completed drilling its Souedieh North wildcat in Syria’s Block 26. Wireline logs indicated potential hydrocarbon zones, but no fluids were recovered. The firm is now studying seismic, drilling, wireline and sidewall core data, to see if a fracture stimulation program would be helpful. In the meantime, Emerald will begin drilling the Tigris 1 wildcat on Block 26.

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