French oil company Total has confirmed that it has signed three major new refining and exploration deals with the Syrian energy industry.
In a statement released on the back of a visit to Damascus by President Nicolas Sarkozy, it was announced that the firm will work alongside the state-owned Syrian Petroleum Company and the Syrian Gas Company to achieve a long-term strategic partnership.
Under one of the deals reached, the licence for oil production at the Deir Ez Zor refining project in the east of the country, which is wholly owned by Total and jointly operated by Total and the Syrian Petroleum Company has been extended by a decade to 2021.
In addition, the volume of gas being delivered by the French firm to the country will be increased over the same period, Total chief executive Christophe de Margerie confirmed.
He added that these latest deals "pave the way for increased cooperation between Total and Syria and bolster our operations in partnership with the national oil companies of this country".
However, Syria will still remain one of Total's smaller global operations, with production levels in the country currently standing at around 15,000 barrels of oil per day out of a total worldwide rate of 2.4 million barrels per day.
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