Syria Signs Chevron and Qatar's Power International to Develop Its First Offshore Oil and Gas Field

Syria’s state-owned Syrian Petroleum Company (SPC) signed a memorandum of understanding with U.S. energy giant Chevron and Qatar’s Power International Holding to open the country’s first offshore oil and gas field.

“Syria holds roughly 2”

AL-Monitor

The deal was announced by Syria’s state news agency SANA and reported widely.

AL-Monitor

The signing was presented as a major step toward reviving Syria’s hydrocarbon sector.

SPC CEO Youssef Kabalawi (also spelled Qablawi in some reports) described the agreement as one of the most important offshore energy deals in the nation.

He said mobilisation and drilling could begin "before summer" and that it may take up to four years to reach gas reserves.

The ceremony was attended by U.S. special envoy Tom Barrack, whose presence was singled out by multiple outlets.

The agreement is framed against nearly 14–15 years of conflict that severely damaged Syria’s energy infrastructure and economy.

Several outlets note that pre-2011 production was substantially higher — roughly 380,000 barrels per day and more than $3 billion in export revenues in 2010.

Amader Barta

Reports say the war caused large-scale damage, with some citing a multi-hundred-billion-dollar toll and high human casualties.

Analysts and regional reporting emphasize that rebuilding wells, pipelines and other infrastructure will be a central challenge if offshore exploration is to deliver economic benefits.

The diplomatic and political framing varies by outlet.

“Syria signed a memorandum of understanding in Istanbul with US oil major Chevron and Qatar’s Power International Holding to explore for oil and gas in Syrian territorial waters”

Anadolu Ajansı

U.S. special envoy Tom Barrack attended the signing and was quoted welcoming the deal, and some regional reports portray his presence as part of a broader push for stability and reconstruction.

Kurdish-focused and other regional outlets linked the energy agreement to wider political moves, reporting that Barrack tied the deal to a reported comprehensive accord between the Syrian government and the Syrian Democratic Forces (SDF) that would include a ceasefire and institutional arrangements.

Reporting also differs on practical next steps and the investor landscape.

Some pieces emphasize immediate technical steps and a timeline toward drilling and reserve access.

Arabian Gulf Business Insight | AGBI

Other reports focus on the legal and contractual process to convert the MoU into a binding contract and note security challenges.

Anadolu Ajansı reports a team has been tasked with converting the MoU into a binding contract.

Anadolu Ajansı quotes SPC saying some wells had been sabotaged before state forces retook them.

AL-Monitor adds background on prior offshore attempts and names a different investor involved in reconstruction deals, a detail not repeated elsewhere.

There are clear factual inconsistencies across reports that readers should note when assessing the story.

“Syria’s state-owned petroleum company signed a memorandum of understanding with U”

Associated Press

These include disagreements about where the MoU was signed, the exact reserve and production figures cited, and how the deal's broader political implications are presented.

Associated Press

For instance, most outlets report the signing took place in Damascus, but Anadolu Agency reports the MoU was signed in Istanbul.

Reserve and current production numbers vary across sources, and some outlets supply detailed reserve estimates and post-conflict production levels that others do not.