Chevron signs initial exploration deal with Syria

(Sharecast News) - Chevron has reportedly signed a memorandum of understanding, or an initial agreement, with the Syrian Petroleum Company and the Qatari firm UCC Holding to evaluate exploration for oil and gas offshore Syria. The news was reported on Wednesday by Reuters, who cited a spokesperson for the US oil giant.

Syria's coast in the eastern Mediterranean lies between major gas discoveries in Israel and Egypt.

Chevron already operates the giant Leviathan gas field offshore Israel, the country's largest energy asset.