RIYADH: Syria is preparing to convert a memorandum of understanding signed with American company ConocoPhillips into final contracts for gas development and exploration within the next few days, according to Syrian Energy Minister Mohammed Al-Bashir.
On the sidelines of the Global Energy Forum in Washington, Al-Bashir told Asharq in an interview that his country met with major American energy companies, which all have a strong desire to work in Syria.
“We met with major American energy companies such as Chevron, ExxonMobil, and ConocoPhillips. All the companies have a strong desire to work in Syria, and we have signed a memorandum of understanding with the latter, and within a few days, we will sign a contract with them for gas exploration and development in Syria.”
The state-owned Syrian Petroleum Co. signed a memorandum of understanding last November with American companies ConocoPhillips and Novaterra, aimed at developing the gas sector, increasing production from existing fields, and discovering new ones.
Syria’s state news agency quoted SPC CEO Youssef Qablawi as saying at the time that the memorandum would contribute to increasing production by between 4 million and 5 million cubic meters per day within one year of implementation, in addition to exploring a new field whose development would require approximately three years.
