Egyptian-American company IPR has announced that it has discovered a new oil well in Syria in Al-Raheed well 1 in Der Ezzor province.
The well’s production capacity would be at 1,450 barrels per day, of which 750 barrels would be invested according to the Egypt’s Petroleum and Mineral Resources Minister Sufian Al-Alaw.
IPR Director General Aziz Mansour said that the company planned to dig a new well in Abu Khashab next July and in Wadi Obeid in Al-Bushri area in late 2009.
Oil production in Syria has decreased over the past few years, dropping from about 650,000 barrels per day in the mid-1990s to around 380,000 barrels now.
To increase production, the country is cooperating with international oil and gas exploration companies operating in different parts of Syria.
