CALGARY, Alberta, April 19 (Reuters) - Suncor Energy Inc (SU.TO), Canada's No. 1 oil and gas producer, said on Monday it has begun producing natural gas from the C$1.2 billion ($1.2 billion) Ebla project in Syria.
Suncor, which took over management of the development when it acquired Petro-Canada last year, said in a release it is now selling gas into the Syrian market after its operations were approved by the Syrian government.
The Ebla project taps estimated gas reserves of 500 billion cubic feet under 300,000 acres of land. It will produce about 80 million cubic feet per day. Suncor's partner in the project is Syria's General Petroleum Corp.
Suncor shares rose 40 Canadian cents to C$34.05 on the Toronto Stock Exchange on Monday. ($ = $1.01 Canadian) (Reporting by Scott Haggett; editing by Janet Guttsman)
Source: http://www.reuters.com/article/idUSN1922040220100419?type=marketsNews
Suncor, which took over management of the development when it acquired Petro-Canada last year, said in a release it is now selling gas into the Syrian market after its operations were approved by the Syrian government.
The Ebla project taps estimated gas reserves of 500 billion cubic feet under 300,000 acres of land. It will produce about 80 million cubic feet per day. Suncor's partner in the project is Syria's General Petroleum Corp.
Suncor shares rose 40 Canadian cents to C$34.05 on the Toronto Stock Exchange on Monday. ($ = $1.01 Canadian) (Reporting by Scott Haggett; editing by Janet Guttsman)
Source: http://www.reuters.com/article/idUSN1922040220100419?type=marketsNews
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