On Tuesday evening, the Syrian Petroleum Company signed a memorandum of understanding with the American companies ConicoPhillips and Novaterra, with the aim of developing existing gas fields and exploring new fields that would strengthen the electrical system in Syria, in a new step to support the country’s energy sector.
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Increasing gas production in Syria and reintroducing ConecoPhillips
The CEO of the Syrian Petroleum Company, Youssef Qiblawi, confirmed, according to what was reported by the Syrian Arab News Agency, that the memorandum aims mainly to reintroduce ConicoPhillips to work in Syria. Under the new agreement, the companies will work to increase gas production by between 4 and 5 million cubic meters per day within one year of the start of implementation.
Qiblawi also explained that the memorandum includes exploring a new gas field that requires about three years to develop, pointing out that the development of existing fields will bring about a tangible improvement in the gas supply allocated for generating electric power, in addition to providing domestic gas.
Qiblawi pointed out that the Ministry of Energy had recently signed an agreement with UCC to establish new power generation stations, which imposes an increase in the quantities of gas required. He stressed that the new partnerships are working to secure quantities to support electrical projects under implementation.
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For his part, the CEO of Novaterra Energy expressed his happiness at following up on the signing of the memorandum, stressing that the two American companies have extensive experience and high credibility in the field of gas development. He said: “We will make every effort to increase gas production in Syria, and support its efforts in developing the energy sector.”
The memorandum comes within the Syrian government’s efforts to increase local gas production and meet the needs of electrical energy projects, thus contributing to supporting the national economy and improving services provided to citizens.
