After years of stagnation, Damascus is making concerted, ongoing efforts to revitalise the country’s energy sector and attract foreign direct investment amid swift changes in the regional energy landscape and growing international efforts to secure alternative supply lines. These efforts mark a pivotal moment in Syria–U.S. Energy Cooperation and Investment Revival, reflecting Damascus’s push to re-enter global energy markets.

A high-level Syrian delegation in Washington, D.C., has led the extensive diplomatic and economic initiatives, embodied these strategic efforts and intended to break the impasse and build bridges of cooperation with international economic powers.

These actions reflect a broader governmental vision in Syria, focusing on economic recovery, building strategic alliances for reconstruction, updating infrastructure, and meeting the population’s needs.

At this point, these high-level meetings are critically significant at this juncture, highlighting a perceptible change in economic relations dynamics and marking the onset of a new phase of coordination. This phase prioritises energy and development as central to the joint national agenda between the two countries.

ConocoPhillips Final Contracts & Increased Investments

According to Syrian Energy Minister Muhammad al-Bashir, Syria plans to finalise contracts for gas development and exploration based on the memorandum of understanding signed with American companies ConocoPhillips and Novaterra on November 18, 2025, to boost production rates and explore new fields.

On June 16, 2026, the Syrian Petroleum Company, ConocoPhillips, and Novaterra completed a legally binding operational contract to develop gas fields in the nation, building on this Memorandum of Understanding. The ConocoPhillips contracts marked a significant step forward in Syria-US Energy Cooperation and Investment Revival, reflecting renewed confidence among American energy companies.

This announcement occurred at the World Energy Forum in Washington on June 9 and 10, 2026, where the minister engaged with major American energy companies like ExxonMobil, ConocoPhillips, and Chevron, expressing a strong interest in cooperation regarding drilling, development, and exploration.

The contracts signify a significant advancement in Syria–U.S. energy collaboration, demonstrating renewed confidence from American energy companies. In addition to creating a new field that will take about three years to finish, this collaboration will help pump an additional 4 to 5 million cubic metres of gas per day within a year of implementation, according to official statements made by the company’s CEO, Youssef Qablawi.

Moreover, Syria’s efforts extended beyond the gas industry; in recent months, it signed several memoranda of understanding and agreements with regional and international investment powers, such as the American corporation Chevron, the Qatari companies Power International Holding and Qatar Energy, and the Emirati company Dana Gas.

In a similar vein, Ross Perot Jr., Chairman of the Board of the American Chamber of Commerce, was present when the Syrian delegation, led by Bashir, met with Mark Rollins, President of HKN Energy, to talk about potential opportunities for collaboration and infrastructure projects.

Syria’s Geopolitical Position & the Strait of Hormuz Crisis

The Syrian Minister of Energy has highlighted the impact of the global energy shock on Syria, particularly due to rising oil and petrol prices, influenced by tensions from the Iran-Iraq War and disruptions in navigation through the Strait of Hormuz.

Al-Bashir clarified that because of inadequate domestic production, Syria still depends on imports for a portion of its oil needs. Before 2011, gas production was 30 million cubic metres per day; today, it is about 10 million cubic metres, much less than the 18 million cubic metres per day needed to run power plants.

The strategic significance of Syria’s location as a “safe and sustainable energy transit corridor” connecting producing nations to the Mediterranean basin and then to international markets, according to the Syrian minister, has been reinforced by the current Strait of Hormuz crisis.

Furthermore, Damascus is in advanced discussions with Iraq to rehabilitate the Kirkuk-Banias pipeline, aiming to increase its capacity to 1.5 million barrels per day. Currently, Iraq exports around 250,000 barrels per day of fuel oil through Syrian territory.

High-Level Government Talks to Boost Collaboration

Officially speaking, Minister Mohammed al-Bashir met with US Secretary of State Chris Wright in Washington to discuss ways to strengthen partnerships, particularly in restoring Syria-U.S. energy collaboration, with an emphasis on technology transfer and long-term investment frameworks.

Ibrahim al-Adhan, Deputy Minister of Energy for Planning and Institutional Excellence; Youssef Qablawi, CEO of the Syrian Petroleum Company; Mohammed Qantari, Chargé d’Affaires of the Syrian Embassy in Washington; and Ahmed al-Sulaiman, Director of the Government Communications Directorate, were among the Syrian delegation attending the negotiations.

The US Secretary of Energy reaffirmed his nation’s support for the Syrian government’s energy sector development efforts during the meeting, stressing the significance of motivating US businesses to take advantage of investment opportunities and support sustainable development initiatives.

Speaking through the “X” platform, Al-Bashir stated that the start of concrete actions by certain American businesses in the Syrian market is indicative of increasing confidence in the investment climate. Based on shared interests, technology transfer, and job creation, he confirmed that the government is striving to provide the facilities and create the regulatory frameworks required to guarantee the success and sustainability of these projects.

At the conclusion of the meeting, both parties committed to maintaining positive communication and growing collaborations between the public and private sectors in both nations—solidifying the path for Syria-U.S. Energy Partnerships and Investment.