Syrian Oil Organization director 'Ali 'Abbas has said that his outfit will seek to expand its activities abroad through a strategic plan to seek investment opportunities in collaboration with major oil companies such as Dutch Shell Oil and the French oil company Total.

'Abbas conceded that the hydrocarbon opportunities in his country are "modest" and that the major oil companies would gravitate toward more economic and supply opportunities such as those in Iraq. He said that the 2010-2015 five-year oil plan seeks to maintain the net production of the Syrian oil fields to prevent a [further] decline, but that it will also seek strategic cooperation with Turkey, Iraq, Iran and Gulf countries to encourage investments in Syria, which has an important position for the transport of oil and gas through its territory.

['Abbas was vague about what Syria could offer to major oil companies either in financing or in technical capacity.]

Source: Al-Thawra, Syria, March 1, 2010