Chevron signs preliminary offshore exploration deal linked to Syria
US energy giant Chevron has entered into a preliminary agreement to assess offshore oil and gas exploration opportunities off the Syrian coast, the company confirmed on Wednesday.
According to a spokesperson, the memorandum of understanding was signed with Syria’s state oil company and Qatar-based UCC Holding. The agreement aims to evaluate the hydrocarbon potential in Syrian Mediterranean waters, an area located near major gas discoveries made in recent years by Israel and Egypt.
Chevron is already a key player in the eastern Mediterranean energy sector, operating Israel’s Leviathan gas field, one of the largest offshore gas developments in the region. Analysts note that Syria’s offshore zone has long been considered underexplored due to years of conflict and international sanctions.
Previous attempts to develop offshore resources in Syria have failed. In 2013, a Russian company secured exploration rights, but the project was abandoned amid the ongoing civil war.
Currently, most of Syria’s oil production comes from onshore fields in the northeast, including the al-Omar field. UCC Holding, Chevron’s partner in the agreement, is a subsidiary of Qatar’s Power International Holding, which has interests across the energy and infrastructure sectors.
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