As a sign of its commitment to the MENA region, Gulfsands has established its Middle Eastern Business Hub in the UAE, based in the award-winning international finance centre, Abu Dhabi Global Market (“ADGM”).
Gulfsands’ assets in Syria (Block 26) remain under force majeure. However, the fields continue to be illegally produced at a rate of around 20,000 boepd. Since the beginning of 2017, when this increased illegal production was first reported, the amount of “lost” oil and the potential value of this stolen oil is as follows:
Barrels of Oil stolen from the Syrian People since January 2017
Potential value stolen
Potential value stolen of Oil Stolen From the Syrian People since January 2017