Syria signs gas sector development contract with U.S. firms ConocoPhillips and Novaterra

Syria has signed a significant contract with U.S. energy firms ConocoPhillips and Novaterra to develop its gas sector, state media reported Tuesday. The agreement, brokered by the state-owned Syrian Petroleum Company, aims to boost production from existing gas fields and support the nation's energy infrastructure.

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a contract with US companies ConocoPhillips and Novaterra with the aim of developing a number of gas fields in Syria and increasing production from existing fields

This development marks a key step in Syria's strategy to attract international investment in its energy industry. The government seeks to modernize its energy sector, which was heavily impacted by years of civil war, and drive economic recovery. The contract is described as the "biggest contract" signed since the new authorities took power in December 2024.

Syrian Petroleum Company CEO Youssef Qablawi emphasized the importance of the cooperation, stating, "Through this cooperation, we look forward to increasing production, improving operational capabilities and supporting the energy system." A Syrian delegation had previously held talks in Washington regarding investment prospects and potential partnerships with the U.S. private sector.

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an important step in the process of developing the gas sector in Syria

Syria is pursuing ambitious energy goals, including a target of producing one million barrels of oil per day by 2030. The country has recently signed preliminary deals with other international energy giants like TotalEnergies and Chevron for offshore exploration. Damascus now asserts control over all of the country's oil and gas fields, following the takeover of areas previously held by Kurdish authorities.

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Through this cooperation, we look forward to increasing production, improving operational capabilities and supporting the energy system