INDUSTRIJA NAFTE to Spud Syrian Well

INDUSTRIJA NAFTE announced its continuation of exploration activities on Aphamia Block in Syria and approved spud-in of Beer As Sib-1 well. Consequently, on April 24, 2010, the company initiated drilling activities on Aphamia Exploration Block. 

Aphamia Exploration Block is situated in central Syria in the close vicinity of Hayan Block where INA, d.d. discovered six fields with significant amount of oil, gas and condensate reserves. INA d.d. is the operator on the Aphamia Exploration Block with 100% paying interest. 

Beer As Sib exploration well is planned to be drilled to the total depth of 2900 meters according to the signed obligations for the First Extension of Initial Exploration Phase. Drilling operations are expected to take approximately 90 days.