Under the supervision of Saudi Arabia’s Ministry of Energy, an agreement and six memoranda of understanding (MoUs) were signed between leading Saudi companies and Syria’s Ministry of Energy on the sidelines of the Damascus International Fair. The agreements cover multiple areas aimed at strengthening Syria’s energy sector, including renewable power, oil and gas exploration, and electricity infrastructure.
As part of the agreements, ACWA Power signed a landmark deal with Syria’s Ministry of Energy to conduct feasibility studies for solar power plants and storage systems with a capacity of up to 1,000 megawatts, along with wind projects capable of generating up to 1,500 megawatts. The agreement also includes assessments of existing power stations, proposals for rehabilitation and development, operation and maintenance contracts, and technical studies to stabilize the national electricity grid while determining the optimal energy mix.
In addition to ACWA Power’s deal, six MoUs were signed across different energy domains:
- TAQA and ADES Holding signed separate MoUs with the General Petroleum Corporation to provide integrated solutions for the development and management of oil and gas fields.
- Arab Drilling Company (ADC) signed an MoU covering oilfield services, including well drilling, maintenance, technical training, and workforce development.
- Arab Company for Geophysics and Surveying (ACGS) signed an MoU focused on geophysical and geological surveys, as well as seismic data collection and interpretation.
- In the electricity sector, the Saudi Electricity Company signed an MoU with Syria’s Public Establishment for Transmission and Distribution of Electricity (PETDE) on generation, transmission, distribution, and technical advisory support.
- The Saudi Electricity Projects Development Company signed an MoU with PETDE to provide engineering and consulting services, including the development of electricity transmission and distribution station projects.
The agreements also emphasize research and development in earth sciences, knowledge transfer, and building Syrian technical capacities in the energy sector. Officials noted that the initiatives are expected to enhance investment opportunities, particularly in oil, gas, and renewable energy.
According to the Ministry of Energy, these agreements fall within the framework of strengthening bilateral ties between Saudi Arabia and Syria, following the recent signing of a broader governmental memorandum of understanding on energy cooperation. That MoU aims to foster collaboration in oil and gas, petrochemicals, electricity, interconnection projects, and renewable energy.
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