Total to Hold Talks with Syria to Extend Oil Block Agreement

LONDON (Dow Jones Newswires), September 2, 2008

Total SA's Chief Cxecutive will be part of a French presidential trip to Syria this week and the company is holding talks with the Syrian government to extend an oil block agreement, a spokeswoman said Tuesday.

She said Total CEO Christophe de Margerie will be part of a delegation led by French President Nicolas Sarkozy, who is due Thursday at a summit in Damascus. The summit will deal with the indirect peace talks between Syria and Israel and will involve France, Syria, Turkey and Qatar.

The spokeswoman confirmed Total continue to hold talks with the Syrian government to extend an oil production sharing agreement, or PSA, which currently produces some 30,000 barrels a day from the Deir Ezzor area in northeast Syria.

The current PSA expires in 2011 but Total wants to extend it to 2021.

Copyright (c) 2008 Dow Jones & Company, Inc.


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