The Syrian Petroleum Company (SPC) signed contracts with four Saudi firms on 10 December for the development of its oil and gas reserves. Saudi Arabia has been an early supporter of the new government of President Ahmed al-Sharaa, and its pledges of support are now turning into concrete investments (MEES, 1 August). As with Turkey and Qatar, Saudi Arabia is seeking to leverage its expertise in the energy sector to strengthen its political influence in Damascus.
This week’s agreements were with ADES Holding, Taqa, Arabian Drilling and the Arabian Geophysical and Surveying Company (ARGAS) and follow the signing of memoranda of understanding (MoU) signed on 28 August (MEES, 1 August). The agreements were signed at Syria’s Ministry of Energy in Damascus. (CONTINUED – 973 WORDS)
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