Gulfsands completes drilling on Syrian test well

17 June 2008
Gulfsands Petroleum, a UK-based oil exploration company, has completed drilling operations on its latest development well in the Khurbet East field.

Following the work on the well, the company now has five wells capable of production from the reservoir at Khurbet East.

Gulfsands expects to start oil production from the field later this year, once the construction and installation of an early production facility has been completed.

Gulfsands block 26 in northeast Syria, in the first half of last year.

The company, which is listed on the AIM stock exchange in London, owns a 50 per cent interest in the block and is the operator.

Gulfsands also has operations in Iraq. In January 2005, it signed a memorandum of understanding with the Oil Ministry in Baghdad for the Maysan Gas Project in the south of the country.

Having completed a feasibility study it is negotiating a definitive contract with the ministry to gather, process and transmit natural gas that is a waste by-product of oil production.

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