CNPC buys 35% interest in Syria Shell

By OGJ editors
-- China National Petroleum Corp. has acquired a 35% interest in Syria Shell Petroleum Development, previously 100% owned by Royal Dutch Shell PLC.

Syria Shell holds interests in the Deir-Ez-Zor, Fourth Annex, and Ash Sham production licenses, which are operated by Al Furat Petroleum Co. Shell has a 31.25% interest in Al Furat.

The licenses cover 40 oil fields from which Shell’s share of production last year was 23,000 b/d of oil.

Before the transaction, CNPC held interests in the production licenses and in Al Furat through its 50% ownership of Himalaya Energy Syria BV.

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