SYRIA

SYRIA (in Middle East)	CAPITAL: DAMASCUS POPULATION: 19 mm AREA (on): 185,200 km² OIL PEAK: 1995
SUPPLY Syrian oil production peaked in 1995. It remained at a plateau until 2001 but is now rapidly declining as the country’s larger fields deplete, especially the giant Suwaidiyah field. There are insufficient prospects for declines to be reversed although they are being slowed. Syria has been progressively reducing flaring of gas by way of the DezGas project whilst the Central Area Gas project is adding non-associated gas. Production has been increasing since 2002, besides a dip in 2007, and it is forecast to continue to grow as gas has become a prime drilling target and infrastructure is being developed. Syria has no offshore oil or gas production and no potential is recognised, although exploration is commencing. Neighbouring offshore discovereis in Israel has boosted Syria's potential for offshore gas finds. DEMAND Oil consumption has been near flat since 1999 whilst exports decline each year, although consumption jumped a little in 2006 and 2007. There is unlikely to be much room for growth in the longer term. Government policy is to encourage gas substitution to maximise oil exports and so gas consumption has been rising since 2002 and is expected to rise more rapidly with new gas projects. However commencement of gas exports by pipeline to neighbouring countries are not forecast before 2020.


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