Syria is marketing itself as a returning oil and gas province with proven hydrocarbon systems, and Youssef Qablawi, CEO of the Syrian Petroleum Company (SPC), was in London this week to drum up business. In a sign of how fast the geopolitical chessboard has changed, Mr Qablawi addressed the first day of the International Energy Week (IE Week) conference on 10 February, where he touted the “much improved” security situation. “Syria is a hotspot…open to opportunities…and everyone wants a piece of the cake,” he declared.
SPC has made some early progress. Last week, it signed an MoU with Chevron for offshore gas exploration (MEES, 6 February). The challenge will be to convert MoUs into final contracts, which would indicate whether IOCs are prepared to commit meaningful capital to Syria. (CONTINUED - 1805 WORDS)
