Al Furat Petroleum Company (AFPC)

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History

The Al Furat Petroleum Company (AFPC) was founded in 1985 and is based in Damascus, Syria.[1]

The company is a joint venture (JV) between state-owned General Petroleum Corporation (GPC) and its international partners Syria Shell Petroleum Development (SSPD), a subsidiary of Shell, and Himalaya Energy Syria BV, itself a joint venture between Indian ONGC and Chinese CNPC.

Company Interest
GPC 50%
SSPD 31.25%
Himalaya Energy Syria 18.75%%
[2]

Activities

The AFPC is the main foreign producer consortium operating in the country.[3] As of May 2011, the AFPC was producing around 100,000 barrels per day (bpd) of oil.[2]

Impact of Unrest 2011-12

In December 2011 the European Union announced that it had widened its sanctions on Syrian oil companies, to include Al Furat. This forced several international partner companies, including Shell to cease operations in the country.[4]

External Links

Official Website: www.afpc-sy.com

References

  1. Company Overview of Al Furat Petroleum CompanyBloomberg, retrieved 15 March 2012.
  2. 2.0 2.1 Investments of European companies in SyriaIKV Pax Christi, 13 May 2011.
  3. Factbox: Syria's energy sectorReuters, 14 August 2011.
  4. Shell to quit Syria after EU extends sanctionsFinancial Times, 2 December 2011.