As the oil and gas sector remains a central pillar of the Syrian economy and a key source for financing development and driving recovery, rehabilitating the sector has become a priority after years of war, sanctions, corruption, and mismanagement. The Syrian Petroleum Company (SPC) outlined a vision and strategy to rebuild the sector, attract foreign investment, and leverage local and returnee expertise, while addressing current challenges and anticipating future growth prospects.
In this context, the SPC has held discussions with two major US energy companies regarding the restoration and development of oil fields in the strategic Jazeera region (Raqqa, Hasakah and Deir Ezzor) of northeastern Syria. SPC Executive Director Engineer Yusuf Qablawi met with representatives of the American firms Hunt Oil and Baker Hughes. The talks focused on potential cooperation to rehabilitate existing oil wells and invest in fields across the Jazeera area.
Boosting Production and Modernizing the Oil Sector
The discussions explored avenues for collaboration aimed at increasing production rates, facilitating the transfer of modern expertise and advanced technologies, and enhancing operational efficiency within the Syrian oil sector. This initiative forms part of a broader government strategy to develop national energy resources and attract foreign investment and technical know-how.
Hunt Oil is an independent US-based oil and gas company with over 90 years of international experience in exploration and production. Its operations span conventional and unconventional oil wells, natural gas projects, and pipeline networks in the US and abroad.
Baker Hughes is a global energy technology company headquartered in Houston and London and is among the world’s largest providers of services and equipment for the oil and gas industry. Its portfolio includes drilling and completion services, production equipment, and technologies for cleaner energy and emissions reduction, with operations in more than 120 countries.
These discussions come shortly after another significant development, as the SPC recently signed a memorandum of understanding with global energy giant Chevron and Power International Holding to cooperate on offshore oil and gas exploration off the Syrian coast. Together, these moves signal a concerted effort by Syrian authorities to assess the country’s energy potential, both onshore and offshore, and to open new investment horizons in this vital sector.
