Tatneft halts oil production in Syria after Damascus blasts

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Tatneft, Russia's sixth-biggest crude oil producer, has suspended its work in Syria due to the two powerful bomb blasts that rocked the Syrian capital Damascus on Friday morning, Tatneft General Director Shafagat Takhautdinov said on Friday.

Tatneft, Russia's sixth-biggest crude oil producer, has suspended its work in Syria due to the two powerful bomb blasts that rocked the Syrian capital Damascus on Friday morning, Tatneft General Director Shafagat Takhautdinov said on Friday.

"Our local headquarters are still there but we have suspended all business (in Syria)," Takhautdinov told reporters.

The two explosions killed 30 people and injured 55. According to Syrian state television, the blasts were carried out by suicide car bombers.

Tatneft became the first Russian oil company to begin geological exploration and production in Syria after winning a tender and concluding a production sharing agreement in 2003.

Tatneft and Syria's General Petroleum Company set up a joint venture named Al Bu Kamal Petroleum Company, which started oil production at the South Kishma field with reserves estimated at 4.9 million tons in spring 2010.

The unrest in Syria began in March. The UN says that 5,000 people have died in clashes since then.

 

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