The Syrian Petroleum Company signed a memorandum with Chevron and Power International Holding in February 2026. By 11 May it had received a formal notice to proceed on a selected offshore block, with field operations set for the summer. The interval between those two dates is the part of an exploration project that usually takes longest.
Syria produced around 380,000 barrels a day before 2011 and between 50,000 and 80,000 by 2021. With Rmeilan and al-Suwaydiyah returning to central control, Wood Mackenzie expects production to begin recovering in 2026 — not from new drilling, but from workovers, artificial lift upgrades and surface facility repairs. The cheapest barrels are the ones already discovered.
Projects
AnnouncedLatakia
Syrian deep-water offshore exploration block
Syria’s first deep-water offshore oil and gas exploration project, in territorial waters, with Chevron proceeding alongside the Syrian Petroleum Company and UCC Holding. Technical and field operations were scheduled to begin in summer 2026.