US and Qatar Pave the Way for Chevron’s Exploration of Offshore Oil and Gas in Syria
The signing of a Memorandum of Understanding (MoU) between the Syrian Petroleum Company (SPC), U.S. energy giant Chevron and Qatar-based Power International Holding (PIH) marks the most serious step to date towards offshore oil and gas exploration in Syria’s territorial waters. After nearly two decades of unrealised plans, failed tenders and stalled contracts due to the conflict and sanctions, this MoU signals a thaw after years of stagnation.
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