Under the auspices of the Ministry of Energy, the Syrian Petroleum Company (SPC) signed a development contract today with the US companies ConocoPhillips and Novatera Energy. This step reflects the Syrian state's commitment to boosting national gas production and upgrading the operational infrastructure of active fields in the country.
This contract is the culmination of a joint effort that began with the signing of a memorandum of understanding (MoU) between the concerned parties. This was followed by technical, legal, and commercial meetings and discussions focused on preparing the necessary studies and drafting the executive frameworks for the project, leading to an agreement on its terms and implementation mechanisms. This aligns with plans to develop the energy sector and attract international expertise and investments to support the national infrastructure.
The signing of the contract underscores the Syrian Petroleum Company's commitment to moving forward with developing its national resources and strengthening strategic partnerships. These partnerships are set to contribute to increasing production, supporting energy security, and accelerating economic recovery and development efforts in Syria.