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Syria

• Reserves (SPE 2P, 2013 Y/E): 35.8 MM boe
• Production (2013): 0 mboepd


INA has been involved in E&P activities in Syria since 1998 based on signed Production Sharing Agreements (PSA). The complex political situation in Syria affected INA’s overall position in the Aphamia and Hayan projects and after Force Majeure was announced on 26 February 2012, all activities regarding Hayan and Aphamia Block were suspended until the “force majeure“ circumstances cease to exist.

APHAMIA BLOCK

The Aphamia block is situated in Hama district, to the northwest of the Hayan block. The Aphamia PSA allows an initial exploration period of four years and two further extensions to the initial exploration period of two years each. INA fulfilled contractual obligations of the initial exploration period and the first extension of initial exploration period. INA has acquired 270 km2 3D seismic and drilled four exploration wells (Jaddua-1 dry well, Mudawara-2, Mudawara-3 and Beer As Sib-1 oil and gas suspended wells). Oil and gas saturated layers at Mudawara and Beer As Sib structures have been determined. The second and last extension of the exploration phase operations ended on 11 November 2012. Due to the FM announcement and suspension of exploration activities INA did not manage to fulfil its commitment to drill one exploratory well in order to confirm the commerciality of oil saturated layers. Despite the fact that PSA has expired, INA has not received any comment from GPC or Ministry yet. INA is withholding its right to continue operations upon lifting Force Majeure.

HAYAN

Thanks to exploration on Hayan block that was performed based on first signed PSA of 1998 INA has announced six commercial discoveries (Jihar, Al Mahr, Jazal, Palmyra, Mustadyra and Mazrur) with significant oil, condensate and gas reserves. In order to carry out petroleum operations on that area Joint Venture Company HPC (Hayan Petroleum Company) was established between INA (Contractor) and GPC (General Petroleum Company), but due to the “force majeure” INA’s operator activities on Hayan fields lasted only 57 days in 2012.