Syrian Petroleum Company Signs Offshore Oil Deal with Chevron and Qatari Investor
The Syrian Petroleum Company has entered into a memorandum of understanding with U.S. energy giant Chevron and Qatar-based Power International Holding to develop Syria's first offshore oil and gas field. The agreement, signed in Damascus with the presence of the U.S. special envoy to Syria, Tom Barrack, aims to strengthen strategic partnerships in the energy sector. This deal marks a significant step for Syria as it seeks to expand its hydrocarbon production and attract foreign investment. The Syrian government, which regained control over oil-rich regions from Kurdish-led fighters, is attempting to revive its economy after years of conflict. The CEO of the Syrian Petroleum Company, Youssef Kabalawi, highlighted the importance of this deal, estimating that drilling could begin before the summer and may take up to four years to reach the gas reserves. 
