Syria has designated an offshore block for its first deep-water oil and gas exploration project, in partnership with Chevron, the US energy major, and UCC Holding, a Qatari construction conglomerate, Reuters reported, citing the Syrian Petroleum Company (SPC).
The move comes as part of broader efforts by Syria’s new government to attract foreign investment into the country’s heavily damaged energy sector after years of civil war and economic sanctions.
The state-owned company said the offshore concession area has been identified in cooperation with its partners, paving the way to finalize contracts and begin technical operations this summer.
Chevron signed a preliminary agreement in February with SPC and UCC Holding to assess offshore oil and gas exploration opportunities in Syrian territorial waters, marking its entry into the Eastern Mediterranean offshore sector.
Chevron already has regional experience, operating the Leviathan gas field offshore Israel, the country’s largest energy asset.
Other US companies have also expressed interest in Syria’s oil and gas projects since the ousting of former President Bashar al-Assad in late 2024, following a 14-year civil war.
