Bloomberg News

Kulczyk Oil Unit Denies Halting Syria Operations, SANA Says

October 20, 2011

Oct. 20 (Bloomberg) -- Loon Latakia, a fully owned subsidiary of Calgary-based Kulczyk Oil Ventures Inc., continues to explore for crude in Syria, the official Syrian Arab News Agency reported.

Ammar Nofal, Loon Latakia’s general manager, described as untrue other reports that the company had suspended work in the country, according to the agency.

Kulczyk announced on Oct. 17 it had halted Syrian operations due to an “increasingly more difficult operating environment.” Loon Latakia holds a 50 percent stake in the Block 9 concession in the northwestern region of Syria, according to Kulczyk’s website.

--Editors: Bruce Stanley, Rachel Graham

To contact the reporter on this story: Lina Ibrahim in Dubai librahim4@bloomberg.net

To contact the editor responsible for this story: Riad Hamade at rhamade@bloomberg.net


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