Saudi Companies Sign Energy Deals with Syria at Damascus Fair
Saudi companies have signed six agreements with Syria’s Ministry of Energy during the Damascus International Fair to help rebuild and grow Syria’s energy sector.
Key agreements
Saudi developer ACWA Power signed a deal with the Syrian Energy Ministry to study and propose solar and storage projects of up to 1,000 megawatts (MW), as well as wind projects of up to 1,500 MW. The company will also review Syria’s existing power plants, suggest upgrades, and study the national grid to find the best energy mix.
In addition, six memoranda of understanding (MoUs) were signed. These cover gas field development, drilling, and natural gas processing. They also include geological and geophysical surveys, seismic studies, and research in energy sciences to boost Syria’s technical skills and create new oil and gas investments.
Companies involved
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TAQA and ADES Holding signed MoUs to support oil and gas field development.
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Arabian Drilling Company signed an agreement for drilling, maintenance, and training services.
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Arabian Geophysical and Surveying Company (ARGAS) will handle geological and geophysical surveys.
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Saudi Electricity Company signed an MoU to work on power generation, transmission, and distribution, plus technical support.
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Saudi Electricity Project Development Company will provide engineering services for electricity stations and grids.
These agreements reflect growing Saudi-Syrian cooperation, supported by a recent government-level MoU covering oil, gas, petrochemicals, electricity, renewable energy, and grid interconnection.
Background
The 62nd Damascus International Fair opened on Wednesday, led by Syrian President Ahmad al-Sharaa. This is the first edition since the fall of Bashar al-Assad’s regime last December.
Just last month, Saudi Arabia signed $6.4 billion (SAR 24 billion) worth of investment deals with Syria, covering infrastructure, telecom, real estate, and finance. About 47 agreements were finalized during the Syrian-Saudi Investment Forum in Damascus.
Published: 29th August 2025
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