Representatives of INA and MOL Group announced May 8th that they have concluded a series of productive and constructive meetings with a high-level delegation from the Syrian Petroleum Company (SPC). The three-day visit focused on exploring options for the re-activation of INA’s oil and gas operations in Syria.
Earlier this year, INA and SPC established a joint technical team to assess the feasibility of INA resuming operations on its Syrian concessions. The team is currently evaluating operational, technical, commercial and regulatory conditions that would enable INA’s return to Syria. Both sides described the discussions as constructive and forward-looking, underscoring their shared interest in identifying a viable path toward restarting operations.
The SPC delegation that met with the INA Management Board was led by Yousef Qiblawy, CEO of Syrian Petroleum Company, accompanied by Zuhair Sawwan, Director of Development and Exploration, and Hisam Suleymanelsalih, Vice President of Gas Development. On Monday and Tuesday, the delegation visited the corporate headquarters of MOL in Budapest and INA in Zagreb. Additionally, representatives of INA and SPC visited the Ministry of Economy on Wednesday, where they held a working meeting with Minister Ante Šušnjar.
As part of the official itinerary on Tuesday, May 5, the delegation also visited the LNG terminal on the island of Krk, Croatia. This visit highlighted the critical importance of diversifying energy sources and supply routes, as well as the implementation of modern infrastructure in the Mediterranean energy hub.
A key milestone of the visit was the meeting of the joint expert team on Wednesday, May 6, where key findings related to the comprehensive assessment of infrastructure and field conditions since the cessation of INA’s operations in Syria were discussed. The team will determine the technical and safety prerequisites for reactivation of INA’s operations and agree on a strategic roadmap for future cooperation.
Zsuzsanna Ortutay, President of the Management Board of INA stated: 'We are pleased with the progress we have made in our discussions with the Syrian side and are encouraged by the constructive spirit in which these talks are being conducted. That said, a return to Syria after more than a decade is a complex undertaking – there are still points that need to be addressed, including regulatory, legal, commercial and operational matters. We remain dedicated to completing this process.'
'MOL Group and INA are committed to further strengthening the region through international partnerships. Syria was previously a cornerstone of our international portfolio: we successfully discovered new hydrocarbon fields and brought them into production. By 2011, our oil and gas production in INA’s Syrian concessions had reached 37,300 barrels of oil equivalent per day. By the time our operations were suspended in 2012, we had invested approximately $1.1 billion in the country, and the new gas processing plant at the Hayan gas field was built as part of these investments,' said Zsombor Marton, Executive Vice President of MOL Group Exploration & Production.
Source: MOL
