Saudi Companies Forge Key Energy Agreements With Syria’s Ministry Of Energy At Damascus Fair

Saudi companies, under the Ministry of Energy's guidance, have entered into an agreement and six memoranda of understanding with Syria’s Ministry of Energy. These were signed during the Kingdom’s participation in the Damascus International Fair. The agreements span various energy sectors, highlighting a commitment to enhance cooperation between the two nations.

ACWA Power, a Saudi Arabian developer, has agreed with Syria’s Ministry of Energy to explore solar and wind projects. The focus is on solar projects and storage systems up to 1,000 megawatts and wind projects up to 1,500 megawatts. This agreement also involves evaluating existing Syrian power plants for potential upgrades and conducting technical studies on the national grid.

The collaboration extends to assessing Syria's current power infrastructure. Proposals will be presented for rehabilitating and upgrading existing facilities. Technical studies will determine the optimal energy mix for Syria's national grid, aiming to improve efficiency and sustainability in energy production.

Six memoranda of understanding target the exploration and development of gas fields. They cover drilling, natural gas processing, conversion into energy, geophysical surveys, seismic data acquisition, processing, interpretation, and research in geosciences. These efforts aim to boost Syria’s technical capacity through expertise transfer and create new investment opportunities in oil and gas.

TAQA and ADES Holding have signed two memoranda for integrated solutions in oil and gas field development and management. Arabian Drilling Company has committed to providing oilfield services such as drilling, maintenance, and technical training through its memorandum of understanding.

Geophysical Surveys and Electricity Sector Development

The Arabian Geophysical and Surveying Company (ARGAS) has agreed to conduct geophysical and geological surveys. This initiative will support Syria in better understanding its geological resources. In parallel, the Saudi Electricity Company has signed a memorandum covering electricity generation, transmission, distribution, along with technical consulting support.

The Saudi Electricity Project Development Company focuses on engineering services related to electricity transmission and distribution stations. Their memorandum emphasizes consulting services for these projects, aiming to enhance Syria's electricity infrastructure.

Strengthening Bilateral Relations

These agreements reflect growing ties between Saudi Arabia and Syria in the energy sector. A recent memorandum between their governments aims to advance collaboration in oil, gas, petrochemicals, electricity grid interconnection, and renewable energy. This partnership underscores a shared commitment to mutual growth through strategic cooperation.

With inputs from SPA