Syrian Petroleum says US firms eye energy investment

Qablawi added, in remarks today, Tuesday, June 9, during Syria’s participation in the Global Energy Forum in Washington, that the meeting with the US side is of major importance to the Syrian economy.

He noted that the goal of these expanded meetings is to transfer modern technologies and activate exploration and production, contributing directly to advancing sustainable development and achieving economic stability.

Qablawi explained that the Syrian Petroleum Company looks forward to building solid strategic partnerships that support efforts to rehabilitate vital facilities and develop fields, based on an attractive work environment and integrated technical and logistical readiness.

The Syrian delegation is taking part in the Global Energy Forum in the US capital, Washington, headed by Minister of Energy Mohammad al-Bashir. On Monday, June 8, the delegation held a bilateral meeting with HKN Energy CEO Mark Rollins, in the presence of Ross Perot Jr., Chairman of the US Chamber of Commerce Board, during which they discussed prospects for cooperation and investment in Syria’s energy sector.

Syrian, US talks on energy

Syrian Minister of Energy Mohammad al-Bashir and US Energy Secretary Chris Wright discussed strengthening bilateral cooperation in the energy sector and investment opportunities available to US companies in energy and infrastructure projects in Syria.

The Syrian Ministry of Energy said the US side affirmed its support for the Syrian government’s efforts to develop the energy sector and strengthen economic recovery, as well as the importance of encouraging US companies to benefit from promising investment opportunities and contribute to implementing strategic projects that support sustainable development.

Al-Bashir pointed out that several US companies have already begun working in Syria, which “reflects growing confidence in the investment environment and available opportunities, especially in the energy sector.”

He confirmed that the government is working to provide the necessary facilitation and develop regulatory frameworks to ensure the success and sustainability of projects.

The two sides agreed to continue dialogue and strengthen cooperation between government institutions and the private sector, contributing to expanding economic partnerships, attracting more investment, and supporting reconstruction and economic development efforts in Syria.

Chevron enters Syrian waters

Youssef Qablawi, CEO of the Syrian Petroleum Company, announced on April 10 that the company had received official confirmation from US company Chevron to move forward with investment and offshore exploration.

Qablawi explained on X that the Syrian Petroleum Company, in cooperation with Chevron and UCC, succeeded in identifying the targeted offshore site.

According to Qablawi, this paves the way for completing the final contracts and launching technical operations during the summer of 2026.

This step will serve as a foundation stone for the first deepwater offshore exploration in Syrian waters, which will boost production, support the economy, and transfer the latest technologies to the country, according to Qablawi.

The Syrian Petroleum Company had signed a memorandum of understanding on February 4 with Chevron International and Power International Holding to explore Syria’s first offshore oil field.

The Syrian Ministry of Energy explained that the memorandum opens new horizons for offshore exploration and oil and gas drilling in Syrian territorial waters, contributing to the development of the oil sector and strengthening national energy security.

[Source: Enab Baladi English]