Petro-Canada Named as Bidder For Syrian Oil

Canadian and Australian companies are bidding to explore oil and natural gas offshore Syria, the Syrian oil minster has announced.

Canadian company Petro-Canada and one unnamed Australian company make up two of at least four companies involved in the bid.

Syria will announce the winners in the second quarter of 2008, Deputy Oil Minister Hassan Zainab told Bloomberg reporters.

The licensing round, announced in May, offers permits to explore in four areas covering a total of 5,000km².

By staff writer