Total inks 3 deals to grow in Syria

By Associated Press
September 4, 2008 | Comments (0)

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France's Total SA said Thursday its has signed three oil and gas agreements in Syria to boost its presence in the Middle Eastern nation.

The company renewed its Deir Ez Zor oil license until 2021. The Deir Ez Zor location is wholly owned by Total and jointly operated with the state oil company. The new license lets Total improve and prolong production from its Jafra, Qahar and Atalla fields.

Also, Total inked a deal to boost output from its Tabiyeh gas and condensate field and signed a deal to partner with Syria's state-owned gas and petroleum companies

American Depositary Shares of Total fell $2.34, or 3.5 percent, to $65.13 in afternoon trading.

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