In a move reflecting growing international interest in Syria’s energy sector, the Syrian Petroleum Company (SPC) signed an agreement with US firms ConocoPhillips and Novaterra Energy to develop several gas fields and increase production from existing sites. The project is widely viewed as one of the most significant foreign investments in Syria’s energy industry in recent years.
The agreement aims to boost gas production from targeted fields while modernizing operational infrastructure according to current technical standards. It also seeks to attract international expertise and investment to support the rehabilitation and development of Syria’s energy infrastructure.
Commenting on the agreement, Energy Minister Muhammad al-Bashir said the signing marks an important step in developing Syria’s energy sector and reflects renewed international confidence in the country’s investment climate. He said the project would help increase domestic gas production, strengthen energy system stability, and support economic recovery and sustainable development through national resources and expertise, in cooperation with international partners.
SPC Chief Executive Officer Yusuf Qablawi described the agreement as a significant milestone for Syria’s gas sector. He said it demonstrates international partners’ confidence in the investment opportunities available in the country and noted that higher production and improved operational efficiency would benefit both the national economy and citizens’ energy needs.
Companies Prepare for Project Implementation
Ryan Lance, chairman and chief executive officer of ConocoPhillips, said the company signed the agreement with SPC and Novaterra Energy to support the development of Syria’s onshore gas resources. He said the deal provides a practical framework for restoring and expanding gas production.
Meanwhile, Novaterra Energy Chief Executive Officer Alex MacDonald said, “We look forward to working with our partners and with the [Syrian government] to ensure the success of this important project.”
Jamil Aqili, executive director of Novaterra Energy Syria, said the company would contribute its technical and operational expertise alongside Syrian petroleum specialists to implement modern technologies and international standards. He added that these efforts would help accelerate production from the targeted gas fields.
Production Increase Could Ease Energy Shortages
According to the Financial Times, official figures indicate the project is expected to increase natural gas production by between 4 million and 5 million cubic meters per day within one year. Such an increase would be significant for a country whose gas output has fallen by nearly two-thirds compared with pre-2011 levels.
Syria’s electricity sector currently requires about 18 million cubic meters of gas per day to sustain power generation, while imports from Azerbaijan and Qatar cover part of the shortfall. As a result, the project is expected to help improve electricity supply and reduce the gap between domestic production and demand.
As the Syrian government seeks to revitalize the energy sector and attract foreign investment, the agreement has become a notable indicator of renewed international interest in the Syrian market. In this context, Andrew Tabler, a former US administration adviser on Syria, said, “This is a pivotal moment; the administration has spoken clearly about facilitating investment, and companies are flowing in to establish themselves on the ground floor of the reconstruction phase.”
