Chevron has announced a preliminary agreement with the Syrian Petroleum Company and Qatar's UCC Holding to assess opportunities for oil and gas exploration along the Syrian coast.

A spokesperson for Chevron confirmed the signing of the memorandum of understanding, reported Reuters.

UCC Holding operates as a subsidiary of Power International.

The area under consideration is situated in the Eastern Mediterranean, a region known for significant gas discoveries in both Israel and Egypt.

In related developments, Chevron is engaged in offshore energy development through its operations at the Leviathan gas field, Israel's largest energy asset.

Last month, Chevron Mediterranean, a subsidiary of Chevron, along with the stakeholders of the Leviathan natural gas reservoir, reached a final investment decision (FID) to boost the production capacity of the Leviathan platform.

Located around 10km off the coast of Dor, Israel, this expansion project is expected to cost around $2.36bn and involves drilling new wells and upgrading infrastructure.

As reported by ABC News, citing Syria's state agency SANA, the agreement seeks to enhance strategic partnerships within the energy sector.

It focuses on collaboration in offshore exploration and the development of oil and gas resources in Syria's territorial waters.

Additionally, the agreement includes broader initiatives to support investment and development in the energy sector.

Previous efforts to explore Syria’s offshore resources include a 2013 agreement between a Russian company, Soyuzneftegaz, and the Syrian authorities. However, that project was abandoned two years later amid Syria's ongoing civil conflict.

Most of Syria's existing oil production is derived from onshore fields in the north-east, notably at locations such as the Al-Omar field.

In December 2025, Chevron began oil production at its South N’dola platform off the coast of Angola. This milestone occurred just over two years after construction started.