Ades Holding, Taqa, Argas, and Arabian Drilling will contribute to increased gas production from Syrian gas fields, after each of the Saudi companies signed agreements with the Syrian Petroleum Company, Syrian state-run news agency Sana reports.

Who’s doing what: Ades will be responsible for raising gas production from existing fields by up to 50% by the end of 2026, Syrian Petroleum Company CEO Youssef Qablawi said, according to Sana. Taqa will take on integrated drilling, well development solutions, and maintenance operations, with additional agreements with Syrian firms in the pipeline, Executive VP Raeed Al Iskandarani is quoted as saying. Argas will provide geophysical services to support exploration, while Arabian Drilling will supply onshore rigs for drilling and maintenance.

Background: Taqa and Ades Holding signed two MoUs back in August on integrated solutions for oil and gas field development and management. Arab Drilling Company also inked an MoU covering oilfield services, drilling, maintenance, and technical training. Meanwhile, Argas signed an MoU for geophysical and geological surveys.

Pledging full support: Syrian-Saudi investment ties are advancing from MoUs to implementation, with some USD 6.4 bn in agreements activated during a joint investment roundtable in October. Major Saudi companies also plan to “ drive [bns of USD] of actual capital to Syria within the next five years,” to rebuild Syria’s energy, financial, and telecom sectors.

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