Syria Palmyride Foldbelt exploration basin
The Syria Palmyride Foldbelt extends east from the Lebanese border across central Syria. The northeast sector of the basin contains several onstream oil fields, but exploration in central and southern areas has produced material gas discoveries. Syria held international licensing rounds since 2001, but unrest in the country, eventually leading to civil war in 2011, impacted awards. International oil companies (IOC) called force majeure and left the country. The Syrian Petroleum Company (SPC) is operating the existing fields. Rounds of European sanctions on the energy sector in 2011 prohibits EU participation in joint ventures involving Syrian state companies and prevents new investment in exploration. In any case the the ongoing political, civil and military situation has effectively brought any further exploration work to a halt. Because of this we have excluded an Outlook analysis.