LONDON — China and India have joined to seek entry to a $1 billion
energy project in Syria.
China National Petroleum and India's Oil and Natural Gas Corp. have
joined in a bid for Petro-Canada's interest in a major Syrian oil and gas
venture with Royal Dutch Shell.
Petro-Canada has sought to sell its 38
percent stake in the Shell-operated Al Furat project in Syria, Middle East Newsline reported.
Al Furat produces crude oil and natural gas from 36 fields with 220
wells in three concession
areas. This represents as much as 50 percent of total Syrian oil production.
Petro-Canada was said to have been disappointed by the failure to find
large amounts of energy in Syria. The Canadian company has also been under
pressure to withdraw from Syria, deemed a terrorist sponsor by the United
States.
