Syria’s Gas Gambit Brings ConocoPhillips Back Into Play
Why it matters
Syria has signed a memorandum of understanding with ConocoPhillips and Novaterra to develop gas fields, aiming to increase production by 4-5 million cubic meters per day within a year, potentially boosting the country's power sector after years of wartime damage.
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Expected market reaction
Market impact analysis based on bullish sentiment with 75% confidence.
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Technical identifiers
- Provider tag
- groq-llama-3.1-8b-instant
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- groq-llama-3.1-8b-instant
- Article id
- 12142
Original source
Syria has just put a big Western flag in its gas patch. The state-owned Syrian Petroleum Company has signed a memorandum of understanding with ConocoPhillips and U.S.-based Novaterra to develop existing gas fields and hunt for new ones, in a bid to drag the country’s power sector out of wartime ruin. Damascus says the deal could lift gas output by 4–5 million cubic meters per day within a year from today’s battered base. That target is not trivial. Syria’s domestic gas production has collapsed from 8.7 bcm in 2011 to about…
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Original article published by OilPrice.com on November 18, 2025. Analysis and insights provided by AnalystMarkets AI.