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Syria's energy sector is poised for a significant transformation following the signing of a major implementation contract between the Syrian Petroleum Company and U.S. firms ConocoPhillips and Novaterra Energy. This agreement, focused on developing gas fields and increasing production, represents the most substantial economic and political achievement between Damascus and Washington since the collapse of Bashar al-Assad's government in late 2024.

The deal is the first major U.S. energy venture in Syria in years and signifies a new phase of "integrated implementation" after President Donald Trump lifted sanctions in July 2025. It follows earlier U.S. initiatives, including memoranda of understanding with companies like Chevron and HKN Energy. However, the ConocoPhillips contract stands out as the largest binding agreement to date for developing Syria's domestic gas sector.

Supported by Gulf and European alliances and financing, the project aims to alleviate Syria's acute energy crisis. Energy experts view the contract, based on understandings reached in November, as more than just a technical oil and gas deal. They see it as a crucial "vote of confidence" that could help unlock financial resources for Syria's new government, which faces an estimated $1.8 billion budget deficit for 2026.

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It sends a strong signal to global markets, he said, that Syria has become an attractive destination for oil and gas investment.

The renewed U.S. involvement occurs as other major international players, including Saudi, Qatari, and French firms, are also securing energy contracts in Syria. This collective influx of investment positions Syria's gas sector on the cusp of a promising new era that could drive national recovery and reconstruction efforts.

Syrian academic and energy expert Ziad Arbash highlighted the contract's importance, noting that it transforms a memorandum of understanding into a concrete implementation agreement. "It sends a strong signal to global markets that Syria has become an attractive destination for oil and gas investment," Arbash stated. He anticipates tangible improvements, including increased field activity, the deployment of modern equipment, and enhanced infrastructure, ultimately benefiting the national economy through economies of scale and a competitive environment.

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