Syria Signs Memorandum of Understanding with Two U.S. Companies to Develop Gas Fields

The Syrian Petroleum Company (SPC) announced the signing of a memorandum of understanding with the U.S. companies ConocoPhillips and Novatera aimed at developing the country’s gas sector, according to the Syrian Arab News Agency (SANA). The memorandum includes efforts to increase gas production from existing fields, in addition to exploring new fields to enhance gas supplies allocated for electricity generation and household use.

The CEO of the Syrian Petroleum Company, Youssef Qabllawi, stated that the memorandum represents a step toward reintroducing ConocoPhillips into Syria’s energy market. He added that the implementation of the agreement is expected to increase gas production by 4 to 5 million cubic meters per day within one year of commencing work, while developing any new field may take around three years.

Qabllawi noted that developing the existing fields will help support the electric power system at a time when the government is working to increase local production to meet the needs of power plants. He also pointed out that the Ministry of Energy has signed a separate agreement with UCC to establish new power stations that will require additional quantities of gas.

Through these partnerships, Syria seeks to strengthen the capabilities of its energy sector and reduce the gap between production and local demand.