Saudi Arabian companies have signed an agreement and six Memoranda of Understanding (MoUs) with Syria’s Ministry of Energy during the Kingdom’s participation in the Damascus International Fair.
Agreement between ACWA-Syria
Saudi Arabian developer ACWA Power signed an agreement with the Syrian Ministry of Energy to conduct studies and submit proposals for solar projects and storage systems with a capacity of up to 1,000 megawatts, as well as wind projects with a capacity of up to 1,500 megawatts.
The agreement also includes assessing existing Syrian power plants, presenting proposals for their rehabilitation and upgrading, and conducting technical studies to evaluate the Syrian national grid and determine the optimal energy mix.
Additionally, six memoranda of understanding were signed covering exploration and development of existing gas fields, drilling, natural gas processing and conversion into energy, geophysical and geological surveying, seismic data acquisition, processing and interpretation, and research and development in geosciences.
The memoranda aim to enhance Syria’s technical capacity in the energy sector through the transfer of expertise and technology while creating new investment opportunities in oil and gas.
TAQA and ADES Holding signed two Memoranda of Understanding (MoU) to provide integrated solutions for the development and management of oil and gas fields.
The Arabian Drilling Company signed a memorandum of understanding (MoU) covering oilfield services, including drilling, maintenance, and technical training.
The Arabian Geophysical and Surveying Company (ARGAS) signed a memorandum of understanding (MoU) for geophysical and geological surveys.
In the power sector, the Saudi Electricity Company (SEC) signed a memorandum of understanding (MoU) that includes electricity generation, transmission, and distribution, along with technical and consulting support.
The Saudi Electricity Project Development Company signed an MoU focused on engineering and consulting services and projects related to electricity transmission and distribution stations.
These agreements and memoranda of understanding reflect the close and steadily growing relations between the two countries, particularly in the energy sector.
