A Memorandum of Understanding (MoU) was signed at the People's Palace in Damascus between the Syrian Petroleum Company, Chevron International, and Power International Holding as part of efforts to develop the first offshore field in the Syrian Arab Republic. The signing ceremony was attended by U.S. Special Envoy to Syria Tom Barrack.
The MoU aims to strengthen strategic partnerships in the energy sector, support development and investment, and open new opportunities for offshore exploration and oil and gas prospecting in Syria’s territorial waters, contributing to the development of the petroleum sector and the enhancement of national energy security.
The agreement also reflects ongoing efforts to expand cooperation with leading international companies and attract high-quality investments that will support the reconstruction and modernization of the oil and gas sector’s infrastructure.