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Syria signs landmark offshore oil field deal with Chevron and a Qatari investor
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DAMASCUS, Syria (AP) — Syria ’s state-owned petroleum company signed a memorandum of understanding with the U.S. and Qatar on Wednesday for the development of the country’s first offshore oil and gas field. Syrian Petroleum Company's deal with U.S. energy giant Chevron and the Qatar-based Power International Holding was signed in Damascus in the presence of the U.S.'s special envoy to Syria, Tom Barrack. Syria's state news agency, SANA, said that the agreement aims to strengthen strategic partnerships in the energy sector and will cover cooperation in offshore exploration and the development of oil and gas resources in Syria’s territorial waters, as well as broader efforts to support investment and energy-sector development.