Chevron signs landmark offshore exploration deal in Syria

Syria

DAMASCUS, February 4, 2026 – Chevron has signed a preliminary agreement with Syria’s state oil company and Qatar’s UCC Holding to explore offshore oil and gas potential in Syrian waters, Reuters reported on Wednesday.

The MoU represents a rare international investment in Syria’s energy sector, which has suffered from over a decade of civil war and sanctions.

The agreement was signed in Damascus and includes collaboration with the Syrian Petroleum Company and Power International Holding, UCC’s parent firm.

Chevron has been expanding its position in the eastern Mediterranean through assets in Israel, Egypt and Cyprus. It operates Israel’s Leviathan gasfield, the country’s largest energy resource.

In a report from the New York Times, Syrian officials described the deal as a pivotal step in revitalising the country’s hydrocarbons industry. It comes weeks after the Syrian government seized control of the country’s largest oilfield, al-Omar, from Kurdish-led forces.

Read our latest insights on:

• Egypt
• Qatar

Previous

Tecnimont and Baker Hughes partner on global LNG initiatives

Next

Varaha raises $20 million to scale carbon removal projects in India