On Tuesday, the Syrian Petroleum Company signed a formal contract with the American companies ConocoPhillips and Novaterra Energy to develop several gas fields in Syria and increase production from existing fields. The government described this move as "pivotal" for supporting the national energy system.
The signing of the contract comes seven months after the parties signed a memorandum of understanding in November 2025, which included intensive technical and legal meetings that resulted in drafting the final agreement and its implementation mechanisms.
What does the contract include?
According to information obtained by Zaman al-Wasl, the contract includes five main components:
1. Developing several gas fields in Syria, with a focus on improving the efficiency of the sector's infrastructure.
2. Increasing production from existing fields by applying the latest operational technologies.
3. Exploring opportunities to develop new gas resources to bolster national reserves.
4. Implementing the latest technical and operational standards, in accordance with international safety and security standards.
5. Transferring global expertise and technologies to the Syrian petroleum sector, contributing to the training of national personnel. Strategic Objectives
The Syrian Petroleum Company explained that the contract aims to achieve a range of national goals, most notably: raising the efficiency of the sector's infrastructure, enhancing the stability of the energy system, supporting the gas supply necessary for electricity generation, attracting specialized international investments and expertise, and contributing to accelerating economic recovery.
In this context, the CEO of the Syrian Petroleum Company, Youssef Qablawi, said that his country's government looks forward, through this cooperation, to "increasing production, improving operational efficiency, and supporting the energy system, which will positively impact the national economy and the needs of citizens."
Translating the Agreement into a Formal Contract
For his part, the Syrian Minister of Energy, Muhammad al-Bashir, wrote on the "X" platform: "After seven months since the agreement was signed, it has today been translated into a formal contract between the Syrian Petroleum Company and ConocoPhillips and Novaterra."
Al-Bashir added that the contract "strengthens the energy system and supports the supply of gas to power plants and vital sectors," emphasizing that "this achievement represents an important step in enhancing energy security and reflects the seriousness of the work and the move towards constructive partnerships that contribute to supporting the national economy and serving the citizens."
Return of International Confidence
Observers believe that signing the contract with two American companies of the size of ConocoPhillips – headquartered in Houston, Texas, and one of the world's largest independent oil and gas exploration and production companies, with total assets of $122 billion – reflects the return of international confidence in the Syrian economy and its ability to attract quality investments.
ConocoPhillips stated in an exclusive interview with CNBC Arabia that the agreement "comes to support the opportunity to develop an onshore gas project in Syria, thus establishing a general framework for developing and exploring a portfolio of gas assets."
It is worth noting that gas production in Syria declined significantly during the years of war, making the rehabilitation of the sector and attracting international expertise a top priority for the government in the recovery and reconstruction phase.
Zaman Al Wasl
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