SYRIA SIGNS DEAL TO REVIVE GAS PRODUCTION – The deal was signed with ConocoPhillips and Novaterra
The Syrian Petroleum Company, U.S.-based ConocoPhillips, and energy firm Novaterra have signed a deal in Damascus to develop new gas fields and expand production at existing fields, according to a joint statement.
Syrian Energy Minister Mohamed al-Bashir said the deal aimed to improve the stability of Syria’s electricity network and contribute to the country’s economic recovery. He did not say which fields specifically were included.
ConocoPhillips worked in Syria until about two decades ago. In May, it signed a deal with French oil major TotalEnergies, QatarEnergy and the Syrian Petroleum Company to launch a technical review of the offshore Block 3 area near the Syrian coastal city of Latakia.
The CEO of the Syrian Petroleum Company Youssef Qabalawi said last year that the deal would aim to increase gas output by 4 to 5 million cubic metres per day within a year.
