Syria’s state-owned Syrian Petroleum Company has signed a memorandum of understanding with US oil major Chevron International and Qatari firm UCC Holding to evaluate oil and gas exploration in Syrian waters, the state-owned Syrian news agency, SANA, reported Wednesday. The deal would mark the country’s first offshore oil and gas development as it seeks to rebuild its energy sector after nearly 14 years of civil war.

What happened: The agreement, signed at the People’s Palace in Damascus, aims to strengthen strategic partnerships in the energy sector, SANA reported.

The memorandum includes cooperation in offshore exploration and the development of oil and gas resources in Syrian waters, as well as broader efforts to support investment and energy sector development.

Why it matters: The........

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