Syria Signs Historic Offshore Energy Exploration Deal with US and Qatar

Syria's national petroleum company signed a landmark agreement with US's Chevron and Qatar's Power International for the country's first offshore oil and gas exploration. This deal marks a significant step towards revitalizing Syria's energy sector, which suffered major setbacks during its prolonged conflict, and aims to bolster foreign investments.

Syria's state-owned petroleum company has inked a landmark agreement with US energy giant Chevron and Qatar-based Power International Holding.

The deal, formalized in Damascus with US's special envoy to Syria, promises to develop Syria's inaugural offshore oil and gas field, marking a pivotal moment for the country's energy sector.

This memorandum of understanding signals Syria's intent to strengthen strategic energy partnerships, exploring and developing resources in its territorial waters post a long-standing conflict that ravaged the nation's oil output.

(With inputs from agencies.)