The Syrian Petroleum Company (SPC) stated on 16 December that INA is set to sign a contract to return to its 130mn cfd Hayan project, confirming earlier reports that the Croatian company is eying re-entry to Syria (MEES, 10 October). A delegation from INA, which is 49% owned by Hungary’s MOL, met SPC CEO Youssef Qablawi in Damascus for discussions. It is unclear when the contract is to be signed.
Prior to Syria’s civil war, INA operated the Hayan block through the Hayan Petroleum Company – a 50:50 JV with state firm GPC. Production reached 125mn cfd of sales gas, 6,000 b/d of condensate and 2,100 b/d LPG before INA was forced out by EU sanctions in 2012 (MEES, 14 September 2012). (CONTINUED - 241 WORDS)