Chevron to begin drilling in Syrian waters this summer

The Syrian Petroleum Company announced that it has received official confirmation from the American company Chevron to begin oil and gas exploration in Syrian territorial waters in the summer of 2026. This comes after the termination of contracts with Russian companies affiliated with the former regime due to their failure to fulfill their obligations.

Youssef Qablawi, the company's CEO, stated on his official social media accounts that the "understanding" phase with the American giant has concluded and the "implementation" phase has begun.

Qablawi confirmed that joint work with Chevron and its partner, Power International Holding, has identified the target offshore location for commencing technical operations.

This shift follows an official decision to terminate contracts with Russian companies, most notably the contract for "Offshore Block 1" off the coast of Tartus.

The Syrian side cited "breach of contractual obligations," as the Russian company Capital Limited had not conducted any drilling operations since signing its contract.

Reclaiming "Block 1" from Russian Companies: The canceled contract had previously granted the Russian company exclusive rights to an area of ​​2,250 square kilometers. Block 1 is now legally available to Chevron, which will begin eight months of technical studies before commencing operations.

New Technologies and Sovereign Investment

Chevron will transfer deepwater drilling technologies to Syria for the first time. This move represents a shift in the management of national resources, as the authorities have replaced the "dysfunctional contracts" of the former regime with performance-based partnerships.

The Syrian decision ended the era of concessions granted to Russia without any corresponding production, allowing the country to regain control of its energy sector, free from previous political considerations. Legal teams have now begun drafting the final contracts to ensure drilling begins on schedule.

The question remains whether the termination of the Block 1 contract will extend to Block 2, which was awarded to another Russian company.