en.Wedoany.com Reported - U.S. oil and gas producer ConocoPhillips is set to sign an agreement with Syria's new government to resume natural gas production. According to the Financial Times, citing sources familiar with the matter, the agreement is based on a memorandum of understanding signed in November and will be formally signed this week.

Under the agreement, ConocoPhillips will collaborate with Novaterra Energy to develop existing natural gas reserves and seek new gas sources. This is part of an agreement signed with the state-owned Syrian Petroleum Company. ConocoPhillips did not immediately respond to a request for comment.

In May, TotalEnergies, QatarEnergy, and ConocoPhillips signed an agreement with Syrian Petroleum Company to begin technical studies on Block 3, located offshore near Latakia. The memorandum of understanding established a framework for commercial exploration discussions and is part of a broader effort by the Syrian government to attract foreign investment into its energy sector, which has been severely damaged by years of civil war and sanctions.

Since Bashar al-Assad stepped down at the end of 2024, energy companies have shown increasing interest in new projects in Syria.

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