Syrian Energy Minister Mohammed Al-Bashir met his U.S. counterpart Chris Wright in Washington on June 9, to discuss enhancing bilateral cooperation in the energy sector and investment opportunities for American companies in Syrian energy and infrastructure projects. The delegation from Damascus also met Mark Rollins, President of HKN Energy, and Ross Perot Jr., Chairman of the U.S. Chamber of Commerce, to discuss prospects for cooperation and investment in the sector.
Al-Bashir had previously met U.S. Senate Foreign Relations Committee Chairman Jim Risch to discuss the state of the war-torn country’s energy sector and the challenges it faces, particularly regarding infrastructure needs, the security of supply, attracting investment, and the development of its technical and technological capacity.
The Syrian delegation’s visit was timed so it could take part in the Atlantic Council Global Energy Forum. Activity around the forum revealed a growing U.S. interest in investment opportunities in the Syrian market. The delegation’s meetings reflected a growing trend toward integrating the energy sector into the core of emerging Syrian-American economic relations. This had already been evident prior to the visit—notably, on April 10, the Syrian Petroleum Company announced it had received official confirmation from U.S. energy giant Chevron regarding investment in offshore oil and gas exploration under Syrian waters. This followed the signing of a memorandum of understanding on February 4 with Chevron International and Qatari firm Power International Holding to explore Syria’s first offshore oil field.
Out of all Syria’s economic sectors, energy may be the one attractive to foreign investment, given the combination of extensive damage sustained by infrastructure over more than a decade of war, and the country’s significant oil and gas reserves—a large portion of which require rehabilitation, development, and long-term investment if they are to be exploited.
Prior to 2011, Syrian oil production stood at approximately 380,000 barrels per day. Over the course of the war, fighting and damage to infrastructure caused this to fall to below 110,000 bpd by early 2026. Recoverable reserves are estimated at around 2.5 billion barrels, offering the prospect of annual revenues ranging from $4.6 billion to $6.1 billion should the fields be brought back into operation. Studies conducted by the General Petroleum Corporation in 2010 indicate that Syria’s reserves total some 27 billion barrels of oil and 678 billion cubic meters of gas, excluding potential offshore reserves.
Shifting Geoeconomics
Yet U.S. interest in Syria’s energy sector extends beyond direct commercial opportunities. It is also linked to a reassessment of Syria’s position within the region’s energy and transport landscape. Syria’s geographic location is shaping a new U.S. stance, as the Trump administration moves from thinking about the country in terms of “strategic neglect” to seeing it as a pivotal geographic node linking the Mediterranean to Iraq, Türkiye, Jordan and Israel. Accordingly, Washington is seeking to align Syria with its broader geoeconomic agenda, while Syrian oil is becoming ever more important amidst volatile geopolitical shifts.
Furthermore, the U.S.-Israeli conflict with Iran and the closure of the Strait of Hormuz have underscored the importance of seeking alternative energy sources and routes. Given the ongoing uncertainty regarding the security of regional energy exports, Syria’s location has given it prominence as a potential gateway to the Mediterranean. A document recently prepared by U.S. Envoy to Syria Tom Barrack reveals that these shifts have pushed U.S. policymakers to reconsider Syria’s strategic importance, particularly given that the ports of Baniyas and Tartus offer the potential for direct exports to European markets.
Despite the significant opportunities for investment in Syria’s energy sector, efforts to rehabilitate it face a host of challenges. These include dilapidated infrastructure, a major thirst for investment, the need to finish modernizing the legal and regulatory framework for investment, and the imperative to transfer the technology and technical expertise required to restore fields and facilities to full production capacity.
According to the U.S. plan, the rehabilitation of Syrian oil fields would be carried out in three phases, between 2026 and 2030. The first phase would entail low-cost well maintenance works and essential infrastructure repairs. This would be followed by the installation of water injection systems and artificial lift technologies, along with the rehabilitation of pipelines and upgrades to the key Baniyas and Homs refineries. The final phase would bring the fields back online.
Syria’s energy sector appears poised to become a key avenue for a Syrian-American economic partnership in the coming years. However, the volume and pace of these investments will depend on the Syrian government’s ability to complete the sector’s institutional rehabilitation, ensure a stable investment climate, and maintain the current political momentum in its relations with Washington.