DAMASCUS, (SANA)-Ministry of Petroleum and the Syrian Petroleum Company in addition to the Canadian oil company of Lune Energy Inc signed on Thursday a contract on oil exploration and development in the cities of Lattakia, Aleppo, Hama and Idlib.
 
The contract provides for geological and geophysical surveys in addition to digging exploration wells during the primary drilling period reaching 48 months by the Canadian company in which it will spend an amount of $ 7,5 millions .
 
According to contract, the Canadian company will specify an annual amount of $ 50 thousands for training the employees of Syrian Petroleum Company,   supporting the specialized training centers in the fields of oil and gas all through contract period in addition to $ 100 thousands as social aid after two years of the trade advertisement which add up to 20 years starting from the first trade production .
 
The government will posses cash portion of 12, 5 % out of the produced oil and the rest to be divided by the Syrian Petroleum Company the Canadian company.