Gulfsands Petroleum has received government approval to develop the Yousefieh oil field in Syria.
The oil field in Block 26 northeast Syria currently has three wells and production will begin from two, Yousefieh-1 and Yousefieh-3, at an expected initial combined rate of up to 1,000bopd.
The firm has received a production licence of 25 years for the oil field, which has the option for an extension of a further ten years.
Gulfsands, which holds a 50% stake and acts as operator of the Yousefieh oil field, expects first oil from the area in April 2010.
The oil field is expected to produce 6,000bpd by 2012.
