Syrian Arab Republic
Main Business Activities
- No activities
Syria Shell Petroleum Development B.V. (SSPD) has suspended all its activities in association with Al Furat Petroleum Company (AFPC) and Al Badiah Petroleum Company (ABPC) as of the December 2, 2011. Such suspension was executed in compliance with the restrictions set out in the applicable laws and regulations.
Whilst SSPD has ceased all its activities in association with AFPC and ABPC, it still fulfils minimum contractual obligations under the production sharing contracts such as tax and social security obligations and other pre-sanctions related liabilities in full compliance with the applicable sanctions.
Shell South Syria Exploration Ltd. (SSSEL) also declared force majeure in December 2011 and suspended all its activities in Syria.
There are no Shell staff in Syria.
Country Financial Analysis
The loss before tax of $148,645 arose in SSPD and SSSEL and is the result of write-offs on receivables from the government and exchange rate fluctuations.