en.Wedoany.com Reported - The Syrian Petroleum Company (SPC) signed an agreement on Tuesday with U.S. energy companies ConocoPhillips and Novaterra Energy to jointly develop multiple natural gas fields and increase the capacity of existing facilities, aiming to boost gas supplies for power generation and other industrial sectors. The agreement, signed at the Ministry of Energy headquarters in Damascus, marks a new phase of cooperation following months of technical, legal, and commercial negotiations based on a previous memorandum of understanding among the three parties.

Youssef Qablawi, CEO of the Syrian Petroleum Company, stated that this agreement represents a significant step in the development of Syria's natural gas industry, reflecting the confidence of international partners in the country's investment opportunities. He said: "We look forward to increasing production, improving operational efficiency, and strengthening the energy system in a way that supports the national economy and meets the needs of citizens."

Syria's official news agency SANA noted that the government previously expected the cooperation to boost daily natural gas production by approximately 4 to 5 million cubic meters. Before the outbreak of the conflict in 2011, Syria's daily natural gas production reached 30 million cubic meters, but current output has declined by about 72% to 75% compared to pre-war levels. The Syrian government plans to increase daily natural gas production to around 15 million cubic meters by the end of 2026.

According to a report released by Wood Mackenzie earlier this year, Syria's total proven remaining oil and gas resources are equivalent to at least 1.3 billion barrels of oil equivalent, with most areas still underexplored. In terms of offshore oil and gas blocks, Syria has not drilled any exploration wells to date, leaving them completely undeveloped. Recently, Syria has signed cooperation agreements with several international energy companies, including Chevron, TotalEnergies, Eni, and QatarEnergy, covering areas such as offshore oil and gas exploration.

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