Syria inks deal with Chevron, Qatari firm for offshore exploration

AFP | Damascus

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Syria signed a preliminary deal with US energy giant Chevron and Qatari firm Power International on Wednesday to explore for oil and gas off the coast of the country, which is still recovering from years of civil war.

Syria’s new Islamist authorities, who overthrew former ruler Bashar al-Assad in late 2024, are seeking to woo investors to rebuild and drawing closer to other countries in the region and the United States.

The state-owned petroleum company signed the memorandum of understanding in Damascus with Chevron and Power International at a ceremony attended by US envoy to Syria Tom Barrack, the official SANA news agency reported.

“The deal marks Syria’s first formal step toward offshore energy exploration,” it said.