Damascus, June 16 (SANA) The Syrian Petroleum Company (SPC) signed an agreement on Tuesday with U.S. energy companies ConocoPhillips and Novaterra to develop several gas fields and increase production from existing sites, as part of efforts to strengthen the country’s energy sector and expand natural gas supplies for electricity generation and other key industries.
The agreement, signed at the Ministry of Energy headquarters in Damascus, marks a new phase in cooperation between the three parties following months of technical, legal and commercial discussions that built on a previously signed memorandum of understanding.
According to the Ministry of Energy, the project is designed to increase gas output from targeted fields, modernize operational infrastructure and improve efficiency in line with current industry standards. The initiative also forms part of broader efforts to attract international expertise and investment to support the rehabilitation and development of Syria’s energy infrastructure.
Youssef Qablawi, chief executive officer of the Syrian Petroleum Company, said the agreement represents an important step in the development of Syria’s gas sector and reflects growing confidence among international partners in investment opportunities within the country.
“We look forward to increasing production, improving operational efficiency and strengthening the energy system in a way that supports the national economy and helps meet the needs of citizens,” Qablawi said.
Ryan M. Lance, chairman and chief executive officer of ConocoPhillips, said the company had signed an agreement to support the development of onshore gas resources in Syria, creating a framework for restoring and expanding natural gas production.
Alex MacDonald, chief executive officer of Novaterra Energy, said the company looks forward to working with its partners and the Syrian government to advance the project.
The agreement comes as Syria seeks to increase domestic energy production and rehabilitate infrastructure affected by years of conflict, with natural gas playing a central role in supplying power plants and supporting industrial activity.
M.Q.R/ABD
