Syria expands post-sanctions energy recovery strategy with major US-backed gas field development deal

Syria has signed a gas sector development agreement involving ConocoPhillips and Novaterra as the government seeks to rebuild energy infrastructure, increase domestic gas output, and attract foreign investment. The move forms part of a broader effort to restore energy security and support economic recovery following years of conflict.

Syria has entered into a new agreement with US energy companies ConocoPhillips and Novaterra to develop several gas fields and raise production from existing assets, according to statements from the state-owned Syrian Petroleum Company. The contract marks one of the most significant energy-sector agreements concluded since the country’s political transition in late 2024.

The initiative is intended to strengthen domestic gas supplies needed for power generation and other critical industries while supporting the modernization of Syria’s aging energy infrastructure. The agreement follows a series of energy partnerships signed in recent months as Damascus pursues foreign capital and technical expertise to restore production capacity.

The development is significant for Syria’s electricity, hydrocarbons, and industrial sectors, all of which have faced prolonged disruptions following years of conflict. Increased gas availability could help improve power reliability, support industrial activity, and reduce constraints on economic growth.

For investors and energy companies, the contract signals Syria’s effort to reopen its energy market and expand international participation in exploration and production activities. The government has outlined ambitions to substantially increase oil output by 2030 and has recently signed additional energy cooperation agreements with international operators. The latest deal also follows the government's consolidation of control over oil and gas assets previously outside its administration, creating a broader platform for future upstream investment.

ConocoPhillips is a US-based multinational energy producer with operations across oil and natural gas value chains globally. Syrian Petroleum Company is the state-owned entity responsible for managing and developing Syria’s hydrocarbon resources.