Damascus, July 13 (SANA) Syrian Petroleum Company CEO Youssef Qablawi said on Monday that Syria’s oil and gas sector offers significant investment opportunities and is ready to expand cooperation with international energy companies, as the country seeks to attract foreign investment and support reconstruction efforts.
Speaking at the First Syrian-American Business Forum in Damascus, Qablawi described the event as an important milestone in strengthening economic cooperation between Syria and the United States and advancing a new phase of economic openness.
“The First Syrian-American Business Forum marks an important step in enhancing cooperation between Syria and the United States and supports a new phase of economic openness,” he said.
Qablawi said Syria’s oil and gas sector possesses substantial resources and untapped potential, making it a key pillar of the country’s reconstruction and economic development.
He said the Syrian Petroleum Company was pursuing a clear strategy to strengthen cooperation with international energy companies and create opportunities for foreign investment in the oil and gas sector.
Qablawi said the company had signed several memorandums of understanding with international firms in recent months, adding that most had since been converted into investment contracts in the energy sector.
He said the company was also implementing a plan to expand investment in oil and gas exploration and development, particularly offshore Syria, while working to convert additional memorandums of understanding into investment contracts in the coming months.
Qablawi concluded that successful investment is built on trust, transparency and mutual interests, adding that Syria welcomes all companies seeking to operate in the country and looks forward to forging genuine partnerships that will help develop the oil and gas sector, facilitate technology transfer and generate added value for the national economy.
The First Syrian-American Business Forum brought together government officials, business leaders and investors to explore opportunities for expanding economic cooperation and investment between Syria and the United States.
N.J/ABD
