Syria has signed an agreement with companies from the United States and Qatar to develop its first offshore oil and gas field, marking a major step in the country’s energy plans.
The state-run signed a memorandum of understanding on Wednesday with U.S. energy company and Qatar-based .
The signing took place in and was attended by the U.S. special envoy to Syria, .
Syria’s state news agency said the agreement aims to boost cooperation in the energy sector.
It includes offshore exploration and the development of oil and gas resources in Syria’s territorial waters, along with efforts to attract investment and support energy-sector growth.
The deal is Syria’s first official move toward offshore energy exploration as the government looks to increase oil and gas production with the help of foreign partners.
Youssef Kabalawi, chief executive of the Syrian Petroleum Company, called the agreement the most important offshore energy deal in the country’s history.
He said preparation and drilling could begin before summer and that reaching gas reserves may take up to four years.
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