What is the main objective of the deal signed between the Syrian Petroleum Company, ConocoPhillips, and Novaterra?

The main objective of the deal is to develop new gas fields and expand production at existing fields in Syria, with the aim of improving the stability of Syria's electricity network and contributing to the country's economic recovery, as stated by Syrian Energy Minister Mohamed al-Bashir; the deal follows a November memorandum of understanding to expand cooperation in the gas sector and is intended to increase gas output by 4 to 5 million cubic metres per day within a year, according to Syrian Petroleum Company CEO Youssef Qabalawi.

How does ConocoPhillips characterize its renewed involvement in Syria’s energy sector?

ConocoPhillips characterizes its renewed involvement as a re-entry into Syria after about two decades, done in partnership with Novaterra; Ryan Lance, Chairman and CEO of ConocoPhillips, emphasized this at a Damascus news conference, noting the company’s prior presence in Syria and expressing hope that the collaboration will grow gas production and lead to even more significant opportunities for both the company and Syria.

Syria Signs Deal with ConocoPhillips, Novaterra to Revive Gas Production

Jun 16, 2026

Syria's state oil firm partnered with ConocoPhillips and Novaterra to restore natural gas production following civil war damage. The deal targets increasing daily output by 4-5 million cubic meters within a year to stabilize the national electricity grid.

reuters

2026-06-16

Syria Signs Deal with ConocoPhillips, Novaterra to Revive Gas Production

Syria Signs Deal with ConocoPhillips, Novaterra to Revive Gas Production

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