ConocoPhillips set to sign the first US major contract with Syria's new government, partnering with Syrian Petroleum Company and Novaterra Energy to develop existing gasfields and explore new ones. The agreement marks a historic entry for an American oil major into Damascus after years of sanctions. The partnership also includes plans to upgrade pipeline infrastructure and train local staff.

Syria's output fell to 10 million cubic metres per day from 30 million in 2011. Government says contract could lift gas production by 4 million to 5 million cubic metres daily within a year, a boost of roughly 40%. The increase eases reliance on imports from Azerbaijan and Qatar, while the grid needs about 18 million cubic metres each day, so the boost matters.

The agreement follows US sanctions relief last year and earlier MoUs with QatarEnergy, Total and a 25‑year upstream pact awarded to HKN Energy. President Ahmed al‑Sharaa is using energy revival to attract foreign capital, while Washington encourages US firms under its “energy dominance” agenda. The contract gives ConocoPhillips a foothold in a market seeking revenue and could bring foreign currency flows.