Syria signs memorandum of understanding with UAE’s Dana Gas
To assess the redevelopment of existing gas fields in Syria
UAE-based Dana Gas said on Wednesday it had signed a memorandum of understanding with the Syrian Petroleum Company to assess opportunities for redeveloping existing gas fields damaged by the 13-year war that has made Syria dependent on imports from Iran.
The war has caused widespread destruction to the Syrian energy sector, and it is estimated that natural gas production fell to 3 billion cubic meters in 2023 from 8.7 billion cubic meters in 2011.
Dana Gas, based in Sharjah and listed on the Abu Dhabi Securities Exchange, signed a memorandum of understanding with the Syrian Petroleum Company, under which it will conduct a comprehensive technical evaluation of several gas fields in central Syria, including the Abu Rabah field, which is considered one of the largest gas fields discovered in the country, according to Reuters
Dana Gas said it would propose an integrated development plan to its Syrian counterpart “provided the assessment is successful and the two parties reach a final agreement to implement the project.”
The company stated that this step aims to support the Syrian government’s ambitions to significantly boost domestic gas production, which in turn supports electricity generation capabilities and contributes to reviving the Syrian energy sector.
Dana Gas CEO Richard Hall said in a statement: “The fields identified under this memorandum are capable of making a real difference to domestic gas production, which enhances energy security in Syria and supports local communities in various parts of the country.”
He added that Dana Gas’s experience in the Kurdistan Region of Iraq could be transferred directly to such projects
