Overview of Oil and Gas Regulation in Syria

Under Syrian law (as of 2011) the government is the major shareholder in the oil and gas sector through its ownership of the Syrian Gas Company (SGC) and the Syrian Petroleum Company (SPC). These two companies maintain a 50% share in every oil and gas project in Syria.

The state-owned SPC operates a number of joint ventures with international companies in Syria, the largest of which is the Al Furat Petroleum Company (AFPC).

=Production Sharing Model=

The state-owned entities interact with the international companies through production sharing contracts (PSCs), an agreement which lays down the percentage of production each party will receive once the participating parties have recovered a specified amount of costs and expenses.

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