The state-owned China National Petroleum Corp. has acquired a 35 percent
stake in Syria Shell Petroleum Development.
The company, owned by Royal
Dutch Shell, has invested in crude oil and natural gas projects throughout
Syria, Middle East Newsline reported.
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Under the deal, the Chinese company would expand its interest in
production licenses in Syria's A-Sham, Dir Ez Zor and Fourth Annex. All of
the licenses have been operated by Al Furat
Petroleum Co., more than 31 percent of which is owned by Shell.
CNPC has held a stake in Al Furat as well as in Syrian production
licenses. Its latest transaction would grant the Chinese company a stake in
40 oil fields in the country.
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