Gulfsands Petroleum, a London-based firm whose sole asset is a 50% operator’s stake in Block 26 in northeast Syria, says the block’s fields – which remain outside its control – produced around 20,000 b/d in 2020 and that “re-entry planning” for a return to Block 26 “continues at pace.”
“According to in-country sources, assets appear to be in good order, materially undamaged and operationally fit,” Gulfsands says in its 2020 report, released last week. “Regional technical, finance and administrative team remains in place to implement re-entry plan as soon as viable,” the firm adds. It says that it is planning for future output of up to 100,000 boe/d and that the assets are potentially worth up to $1.5bn. (CONTINUED - 1962 WORDS)
