Syria signs MoU with global energy companies to develop and explore gas fields

The Syrian Petroleum Company signed on Tuesday a memorandum of understanding with leading global energy companies, ConocoPhillips and Novaterra Energy, to develop several gas fields and launch exploration programs for new fields, the Ministry of Energy announced on its Telegram channel.

The ministry stated that the agreement aims to broaden cooperation in the natural gas sector and boost national production. It noted that the development and exploration programs will be conducted according to the latest technical and technological standards to support the country’s energy security

The signing of the memorandum comes as part of the Ministry of Energy’s efforts to expand partnerships with international companies and improve the production infrastructure of the oil and gas sectors. The Ministry says this step will contribute to achieving additional economic returns and supporting recovery and development plans in Syria.

The Syrian government has been working to revive the oil and gas sector, which suffered extensive damage and a sharp decline in production during the years of war, with many key fields going offline and their associated infrastructure damaged.

Source: SANA