Turkey moves into Syria oil and gas sector with exploration plans

Turkish Energy Minister Alparslan Bayraktar announced that Turkey's state oil company, TPAO, and private firms are prepared to begin seismic surveys and exploration in Syrian onshore and offshore blocks "immediately." The announcement followed the signing of several energy agreements with his Syrian counterpart, Mohamed Al Bashir, in Damascus.

The deals underscore Ankara's ambition to become a leading partner in Syria's reconstruction. Since the deposition of Bashar Al Assad in December 2024, the government of President Recep Tayyip Erdogan has cultivated close ties with the new Syrian President, Ahmad Al Shara, positioning Turkey as a dominant foreign player in the country's economic and political transition.

Syria's energy sector, once a significant producer in the eastern Mediterranean, has been gutted by 14 years of civil war, with output collapsing by approximately 80 per cent from pre-war levels. The Syrian government estimates that it requires more than $30 billion to rehabilitate the industry, creating opportunities for foreign investment.

Other regional players are also engaging with the Syrian market. Abu Dhabi-listed Adnoc Drilling has identified Syria as a growth market, and the UAE's Dana Gas has reached a deal following the lifting of US sanctions. Additionally, Turkey and Syria plan to commission new infrastructure to triple electricity transmission capacity between the two nations to over 800 megawatts.