Closing Date for Bids for Offshore Exploration Blocks Put Back to 29 November

摘要

The Ministry of Petroleum and Minerals has announced the deferral of the closing date for bids for offshore exploration blocks from 27 September to 29 November.The bid round,which was launched last March,is for four offshore tracts.The blocks are numbered from 1 to 4 and cover the following areas respectively:1,281.28 sq km,1,258.69 sq km,1,213.34 sq km and 1,260.58 sq km.The exploration and production-sharing agreement being proposed in this licensing round provides for an initial 30-month exploration period,during which studies and a 3-D seismic survey would be carried out,and gives the contractor the option,depending on the results,of either going on to a second phase,also of 30 months,or of relinquishing its license.Wavefield Inseis has already acquired and processed 2-D seismic data over Syria's territorial waters.This is the first time that Syria has offered offshore acreage for exploration.