Soyuzneftegaz (27)


The Syrian Gas Company has lost some SYP 1.2 trillion since 2011, its general manager has said.


The two tables below list the Russian companies involved in Syria since the beginning of the Russian military intervention in the country in September 2015.


The Ministry of Petroleum is negotiating over several oil and gas exploration contracts with countries allied to the regime, an executive from a state-owned company said.


Moscow has confirmed that several Russian companies had begun operating in Syria’s energy sector.


Last week, Russia and Syria signed several new economic cooperation agreements during an international business forum organized in Crimea, including to develop offshore resources.


A Russian company that was granted the right to explore Syria’s waters for oil and gas is reportedly returning to Syria after a two-year suspension of its activities.


In this 2,500-word factsheet, we provide an overview of Syria’s economic and financial relations with Russia.


Russian oil engineering companies are reportedly already active in Syria as the Syrian President said that new contracts would be granted to them.


The expected takeover by Iran of one of Syria’s ports has not yet materialised as traffic remained stable last year in the two ports of Lattakia and Tartous.


Russia’s energy minister has confirmed that his country was looking at opportunities to develop Syria’s oil and gas assets only days after an Iranian official expressed the same interest.


In a surprise move, Russia’s Soyuzneftegaz, an oil and gas company exploring Syria’s offshore areas, has announced that it was withdrawing from the Syrian market.


As Russia sends its troops to Lattakia, it claims that it also plans a number of economic projects in Syria’s coastal city.


Syrian officials are holding an increasing number of meetings with investors and officials from countries deemed friendly in an apparent bid to develop economic and trade ties.


Syria’s imports from Russia stood at around USD 1 billion in 2014, according to a Government official.


Soyuzneftegaz, the Russian oil company, has established a representative office in Damascus to begin exploring the country’s offshore waters.


Soyuzneftegaz, a Russian oil and gas company, is raising its involvement in Syria’s energy sector by increasing its stake in an oil company that has sizeable assets in the country.


Syria is planning to award a new multimillion engineering contract to a Russian company after it granted an offshore license to another last December.


Following an agreement signed last December with the Syrian government to search for offshore oil and gas reserves, Soyuzneftegaz, a Russian company, is eyeing the construction of an oil pipeline from Iraq to the Syrian coast.


The Syrian government signed a production sharing agreement for the exploration and development of an offshore block, a move that was swiftly condemned by the opposition National Coalition as an “oil for arms” barter deal.


The government has confirmed it has reached a preliminary agreement with Soyuzneftegaz, a Russian energy company, for the exploration of its offshore waters, a week after the visit to Damascus of the company’s vice-chairman.


Syria’s Prime Minister has met with a representative of a Russian energy company to explore the development of the country’s offshore resources.


There are currently just under two dozen international companies operating in the Syrian oil industry from the exploration and production sectors to related services. The companies are listed below.


There are currently just under two dozen international companies operating in the Syrian oil industry from the exploration and production sectors to related services. The companies are listed below.

SoyuzNefteGaz E&P12 Inc. is carrying the drilling of a second well in Block 12 after a first one proved unsuccessful, according to Azat Mazitov, General Manager.

SNG Overseas Ltd (SNGO), a 100 percent subsidiary of Emerald Energy Plc is the partner of Gulfsands Petroleum in the development of Block 26 and owner of a 50 percent working interest in the field.


Gulfsands Petroleum has signed an agreement to purchase Devon Energy Corporation's 80% interest in the Block 26, in the northeast of the country, through its purchase of all the capital shares of Devon Syria, Ltd for an undisclosed amount.