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Wednesday, October 19, 2011     GET REAL

Canadian firm halts energy development in Syria

WASHINGTON — A Western contractor has suspended energy operations in war-torn Syria.

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Canada's Kulczyk Oil Ventures has halted the development of its well in northwestern Syria amid the seven-month revolt against the regime of President Bashar Assad. Kulczyk subsidiary, Loon Latakia, suspended drilling of the Itheria-1 well after 2,000 meters, well below its planned depth of 3,256 meters.

"KOV will continue to monitor operating conditions in Syria to assess when, and if, a recommencement of its Syrian operations is possible," the Calgary-based company said on Oct. 17.


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Over the last three months, both the European Union and the United States have banned energy projects in Syria.

Kulczyk said the Assad regime rejected the company's request to delay development of Block 9, a 2.48 million-acre area located 200 kilometers east of Latakia and near heavy fighting between security forces and rebels.



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