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Konoko Phillips to sign gas deal with Syria
The Financial Times reports that American company ConocoPhillips is preparing to sign a contract with the Syrian government to revive gas production. This marks the first agreement of its kind between a major U.S. oil company and the Syrian government since the outbreak of the war. The deal includes a project to develop existing gas fields and explore for new ones, with the goal of increasing production by four to five million cubic meters per day within a year, after production had dwindled to a third of its pre-war levels. This move is part of Damascus's efforts to strengthen the energy sector, which is a key focus of Syrian President Ahmad al-Sharif’s policy. He is seeking to attract American investments despite the sanctions imposed on the country.
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