Syia’s new government has achieved its most notable upstream win to-date, signing an MoU with Chevron to explore for gas offshore. The Syrian Petroleum Company (SPC) signed the MoU with Chevron and the politically-connected Qatari private firm UCC Holding in the presence of President Ahmed al-Sharaa and the US envoy for Syria Tom Barrack. Youssef Qablawi, CEO of SPC, said he hopes drilling can begin before summer, although that is unlikely; seismic surveys later this year are more likely. Mr Qablawi acknowledged that it would still likely take up to four years before any gas could be developed.
Syria has been making great strides in bringing foreign companies into its energy sector – UCC has already signed up to build 4GW of gas-fired power capacity and a 1GW solar complex (MEES, 18 July). An MoU was signed with US independent ConocoPhillips in November to examine gas development, and an HoA with Saudi Arabia’s ADES Holding the following month (MEES, 12 December 2025). The new MoU could lead to the addition of Syria to Chevron’s gas-focused asset base in the East Mediterranean (MEES, 6 February). (CONTINUED - 182 WORDS)