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IRAQ'S CORRUPTION
العربية
People & Institutions

Synthetic Energy 196 AB (Swedish company; org. no. 556774-1755)

Investment licence of the National Investment Commission, for the project: Project for purification and recycling of oil spill waste under the oss system.

شركة سينثتيك اينرجي 196 أ.ب(سياب) السويدية

All investment licences

Legal status

Not charged as of the date of writing

Not charged as of the date of writing. The company received NIC investment licence 359/2020 for a Kirkuk oil-spill waste recycling project; no official finding, court case, sanction or credible press accusation was found (status as of 5 October 2026).

The licence as listed

The list of licensed projects of the National Investment Commission.
Licensing body
National Investment Commission
Licence number
359/2020
Date of grant
30 April 2020
Sector
Industry
Project
Project for purification and recycling of oil spill waste under the oss system
مشروع تنقية وتدوير مخلفات الانسكابات النفطية بنظام oss
Licensee
شركة سينثتيك اينرجي 196 أ.ب(سياب) السويدية (سويدية)
Province
Kirkuk
Location
كركوك
Stated cost
$31.5 million
The list gives the cost in dinars. It is converted here at 1,190 dinars to the dollar.
State of the project
Not reported

Who is behind the licensee

foreign company
People connected with the licensee
NameRoleLegal statusSource
Abas Ibrahim
Board member (Ledamot) of Synthetic Energy 196 AB, per Swedish company-register data published by allabolag.seNot charged as of the date of writing
Not charged as of the date of writing. No charge, court ruling, sanction or official finding was found in the sources read.
allabolag.se

What official and press reports say

Official findings
None found. No Integrity Commission, Federal Board of Supreme Audit, parliamentary, NIC withdrawal, court or sanctions record naming the company or its board member was found in the sources checked.
What became of the project
Kirkuk oil-spill waste treatment and recycling project ('OSS' system), NIC licence 359/2020 of 30 April 2020, cost IQD 37,500,000,000. The register gives no completion figure ('؟') and lists no obstacle. No public report on whether the Kirkuk plant was built was found. The company's Swedish register entry shows revenue of SEK 0 and no employees for the 2025 financial year.
Other contracts with the state
On 16 September 2021 Iraq's Ministry of Oil, through the state-owned North Refineries Company, signed a heads of agreement (HOA) with a Swedish company called 'SEAB' (Shafaq News: سيب) and Turkey's Limak to build a 70,000 b/d investment refinery at Qayara (Nineveh). The NIC licence itself abbreviates this licensee as '(سياب)', i.e. SEAB, and press describes that SEAB as an oil-waste-recovery firm working in Iraq, which matches this licensee's registered objects. No final Qayara contract was found in the sources read.

Sources

  1. Synthetic Energy 196 AB - 556774-1755, allabolag.se (Swedish company-register data) Tier A
    Bolaget ska bedriva utveckling, tillverka och marknadsföra utrustning för återvinning av avfall, samt framställa petrokemiska produkter såsom syntetisk råolja och dieselolja samt därmed förenlig verksamhet.
  2. Synthetic Energy 196 AB - board and registration, allabolag.se (Swedish company-register data) Tier A
    Ledamot Abas Ibrahim
  3. بطاقة تكريرية 70 ألف برميل.. مذكرة اتفاق مبدئي مع (HOA) لتنفيذ مصفى القيارة, Shafaq News, 16 September 2021 Tier D
    وقعت وزارة النفط ممثلةً بشركة مصافي الشمال مذكرة اتفاق مبادىء (HOA) لتنفيذ مشروع مصفى القيارة الاستثماري بطاقة (70) ألف برميل باليوم مع شركتي سيب (SEAB) السويدية وشركة ليماك (Limak) التركية.
  4. SEAB and Limak sign agreement to build Qayara refinery in Iraq, NS Energy, 17 September 2021 Tier D
    SEAB is engaged in providing oil waste recovery solutions and waste management in the Middle East.
  5. Turkish, Swedish companies sign agreement to build refinery at Qayara oil field, MENA Affairs, 17 September 2021 Tier D
    A spokesperson for SEAB said he expects to sign a final contract with the Ministry within three months.
  6. Iraq inks initial agreement to develop 70,000 b/d refinery to process heavy Qayara crude, Hellenic Shipping News (republishing S&P Global Platts), September 2021 Tier D
    The agreement was signed between state-owned North Refineries Co., SEAB and Limak, the ministry said in a statement.
  7. New Oil Refinery announced for Qayara, Iraq Business News, 20 September 2021 Tier D
    The facility, Nineveh province, is to be built by Sweden's SEAB and Turkey's Limak.
  8. SEAB Synergy profile, CB Insights Tier C
    A Swedish company that provides solutions for the energy sector. The company processes petroleum waste to recover crude oil and treats polluted soil for agricultural use through bioremediation, as well as develops refinery projects.