Syria secured a partnership with Chevron and Qatar’s UCC Holdings for its first deep-water oil and gas exploration project. The collaboration targets an offshore block in the Eastern Mediterranean.
The new Syrian government aims to attract foreign capital to revitalize an energy sector damaged by conflict and sanctions. This deal marks Chevron’s strategic entry into the region using its offshore operational experience.
Syria intends to enhance domestic energy production to drive national economic recovery. The partnership provides the country’s challenged energy industry with high-level technical expertise and substantial foreign investment.