en.Wedoany.com Reported - The site for Syria's first deepwater oil and gas exploration project has been finalized, with partners being Qatar's UCC Holding and the U.S. company Chevron. The Syrian Petroleum Company will complete contract signing and commence technical operations by the summer.

According to a Reuters report, this news was released by a Syrian state-backed entity. The project is expected to attract new investment into Syria's sanctions-hit energy sector.

In February this year, the Syrian Petroleum Company signed an agreement with Chevron and Qatar's Power International Holding to develop Syria's first offshore oil and gas hub. QatarEnergy, TotalEnergies, and ConocoPhillips are evaluating another block.

In the same month, Saudi Arabia announced it would invest 7.5 billion Saudi Riyals (2 billion USD) in the development of a new airport in Syria.

Last July, Saudi Arabia announced a 6.4 billion USD investment in Syria, covering 47 deals involving over 100 Saudi companies operating in real estate, infrastructure, and telecommunications.

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