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Syrian President Holds Talks with Chevron on Offshore Oil and Gas Projects

Syrian President Ahmed al-Sharaa met with representatives from U.S. energy giant Chevron and the Syrian Petroleum Company to explore collaboration on oil and gas development along Syria’s coastline, state media reported Tuesday.

Details of the discussions were not disclosed, and Chevron has yet to comment on the meeting. The session also included officials from Qatar’s UCC Holding, which recently led a consortium of international firms in signing a $7 billion memorandum of understanding to develop major power generation projects in Syria.

Syria’s energy sector has been severely affected by more than a decade of civil conflict, leaving domestic electricity production well below pre-2011 levels. While power supply has improved recently with the import of gas from Azerbaijan and Qatar, domestic natural gas output has fallen sharply, from 8.7 billion cubic meters in 2011 to an estimated 3 billion cubic meters in 2023.

Damascus has committed to expanding electricity generation and securing foreign investment to rebuild its war-damaged energy infrastructure.