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Bloomberg: Shell Wins Two Oil Exploration, Production Contracts in Syria

By Abdulla Fardan

Oct. 3 (Bloomberg) — Royal Dutch Shell Plc, Europe’s largest oil company by market value, won two contracts to search for and pump oil in Syria, according to the state-run Syrian News Agency.

Oil Minister Sufian al-Allaw will sign the contracts with Shell’s representatives in Damascus, Syria’s capital, tomorrow, the agency said today. The two sides will hold a press conference after the signing ceremony to give details, the agency said.

Shell produces about 180,000 barrels a day of crude oil in Syria under existing agreements, or about 45 percent of the country’s oil output.

To contact the reporter on this story: Abdulla Fardan in Bahrain at [email protected]

Last Updated: October 3, 2006 11:23 EDT

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