The state-run Syrian Petroleum Company (SPC) has launched a project with Saudi energy services company ADES to develop and operate several gas fields in the central province of Homs, marking the latest Gulf-backed effort to revitalize Syria's war-torn fossil fuel sector.
What happened: The SPC said that work had begun after the project sites were handed over to ADES under the implementation agreement signed on April 5, the state-run Syrian Arab News Agency, SANA, reported Friday.
The project aims to increase the gas fields' production by 25% within the first six months and by 50% by the middle of next year, raising output to around 4 million cubic meters of gas per day for electricity generation.
According to SANA, Walid al-Youssef, SPC deputy executive director for exploration and production, said the project includes technology transfers and training for Syrian staff to support the development of the gas sector.
Why it matters: The project is the latest in a series of Gulf-backed investments aimed at rebuilding Syria's energy sector after the ouster of President Bashar al-Assad in December 2024 by Islamist rebel forces. Since taking office, President Ahmed al-Sharaa, former leader of the Islamist militia Hayat Tahrir al-Sham, has sought to attract foreign investment for reconstruction after the lifting of Western sanctions over the course of last year. Gulf companies have emerged as some of the biggest investors in the reconstruction effort.
