The Syrian Petroleum Company (SPC), a state-owned company, has signed an agreement with US ConocoPhillips and energy firm Novaterra to develop new natural gas fields in Syria, according to Reuters.
The agreement aims to support the recovery of Syria’s electricity sector and contribute to the country’s broader economic reconstruction, said Syrian Energy Minister Mohamed al-Bashir. He did not specify which gas fields would be included in the project.
The deal builds on a memorandum of understanding (MoU) signed by the three parties in November 2025 to expand cooperation in Syria’s natural gas sector.
According to Reuters, Syria’s domestic natural gas production is declining to an estimated 3 billion cubic meters (bcm) in 2023 from 8.7 bcm in 2011.
ConocoPhillips Chairman and CEO Ryan Lance said the agreement marks the company’s return to Syria after an absence of about two decades. “We were in the country several decades ago, and this represents the re-entry of our company back into Syria in partnership with Novaterra.”
For his part, Novaterra Energy CEO Alex Macdonald said the company will provide technical training, advanced software, and modern technologies to support the development of its operations in Syria and strengthen the country’s energy capabilities.
