The oil and gas contracts Moscow signed during the war years in Syria face potential review amid the changing political landscape in the country. This is particularly true for contracts granted to companies such as "Mercury," "Soyuz Nefte Gaz," "Euro Polis," and "STG."
Offshore Contracts in Blocks 1 and 2 have not translated into actual operations despite more than a decade passing since their signing. Estimates point to high risks, significant costs, and border disputes that have prevented the start of drilling.
In contrast, Russian investments in Qara, key town in the Qalamoun region northeast Damascus, have achieved tangible progress, with 8 gas wells entering production and supporting the electricity grid. This reflects a trend towards less complex, faster-return fields.
Legal experts confirm that contracts signed under exceptional circumstances may be subject to challenge, while the lack of offshore implementation provides grounds for their cancellation. Contracts linked to "Euro Polis," in particular, face additional complications due to the company's association with paramilitary groups.
The fate of these agreements will depend on upcoming political understandings. Expectations suggest that non-producing contracts will be considered liable to annulment under any new legal framework.
Zaman Al Wasl
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