Syria signs landmark offshore oil field deal with Chevron and a Qatari investor [Yahoo! Finance]
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Source: Yahoo! Finance
Syrian Petroleum Company's deal with U.S. energy giant Chevron and the Qatar-based Power International Holding was signed in Damascus in the presence of the U.S.'s special envoy to Syria, Tom Barrack. Syria's state news agency, SANA, said that the agreement aims to strengthen strategic partnerships in the energy sector and will cover cooperation in offshore exploration and the development of oil and gas resources in Syria's territorial waters, as well as broader efforts to support investment and energy-sector development. The deal marks Syria's first formal step toward offshore energy exploration as the government seeks to expand hydrocarbon production and attract foreign partners. Syria's oil and gas sectors were adversely impacted by the country's nearly 15-year conflict that killed half a million people and caused wide destruction. Before the conflict began with an uprising against then President Bashar Assad 's government in March 2011, the oil sector was a pillar of Syri
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