GPC Prequalifies for Iraqi Licensing Round/ Syria
The General Petroleum Corporation has prequalified to participate in the next exploration qualification round in Iraq, the Iraqi Ministry of Oil said.
In a statement on its website, the Ministry said that GPC, a company fully owned by the Syrian government, had “passed successfully all the criteria and qualified to participate in the 4th Licensing Round.”
GPC usually acts as the local partner in the joint ventures established between the Syrian government and international oil companies operating in the country, while the Syrian Petroleum Company operates as an exploration company.
Both GPC and SPC are under sanctions from the European Union and the US for their alleged support to the Syrian government in its repression of the uprising gripping the country since March 2011.
These sanctions have led to the suspension of works by international oil firms such as Total S.A., Shell and Suncor Energy. The Arab Leagues has also passed economic sanctions against Syria although it has not targeted specific companies.