Syria signs offshore energy deal

Syria's state-owned Syrian Petroleum Company signed a memorandum of understanding with U.S. energy giant Chevron Corporation and Qatar-based Power International Holding for the development of Syria's first offshore oil and gas field. This agreement, signed in Damascus in the presence of U.S. special envoy to Syria Tom Barrack, aims to strengthen strategic partnerships in the energy sector, covering offshore exploration and the development of oil and gas resources in Syria's territorial waters. The deal marks Syria's first formal step toward offshore energy exploration as the government seeks to expand hydrocarbon production and attract foreign partners. Syria's oil and gas sectors were severely impacted by a nearly 15-year conflict, and this initiative is part of the new authorities' efforts to revive the country's economy.