A plan obtained by CNBC Arabia outlines potential cooperation between Syrian authorities and U.S. energy firms to rebuild Syria’s oil and gas sector. The initiative includes creating a joint venture, SyriUS Energy, aimed at restoring production and infrastructure. No official confirmation has been issued.
The plan is structured in five phases, beginning with the recovery and rehabilitation of energy assets and culminating in the export of energy products and integration with regional infrastructure. It includes the formation of new entities, notably a legal structure to be listed on the U.S. stock exchange, 30% of which would be owned by a Syrian sovereign energy fund.
According to an executive summary shared with U.S. President Donald Trump and Syrian interim President Ahmed al-Sharaa, the project aims to restore and stabilize Syria’s energy sector, which it identifies as a key pillar for national recovery and economic sovereignty. The document was submitted by Jonathan Bass, CEO of U.S.-based Argent LNG, ahead of recent U.S. sanctions exemptions.
The plan calls for rebuilding Syria’s energy infrastructure to ensure accessible and affordable electricity and fuel for the public. It also targets job creation, the development of local expertise, and sustainable revenues to support reconstruction and public services. Furthermore, it seeks to protect national energy resources from foreign or non-state control and enable Syria’s gradual return to regional energy trade, in partnership with leading U.S. suppliers.
A central element of the plan is the launch of SyriUS Energy, described as a Syrian-American energy firm that will manage cooperation between both countries. The company would engage top U.S. energy corporations.
The five-stage plan begins with securing key oil fields, including al-Omar, al-Taym, al-Tanak and fields in Hassakeh, followed by technical assessments of pipelines, refineries and power infrastructure. Emergency fuel supply needs would also be mapped and prioritized.
In the second phase, the focus would shift to rehabilitating the Homs and Baniyas refineries and restoring major pipelines, including the Arab Gas Pipeline. The plan also seeks to expand access to natural gas for residential and industrial use.
The third phase proposes establishing a U.S.-listed holding company to manage energy assets and attract private investment. It also includes forming a new national oil company under the SyriUS Energy name, incorporating foreign technical expertise aligned with Syrian interests. The plan outlines service and production-sharing contracts with allied states, involving energy giants like ExxonMobil, Chevron, ConocoPhillips and Shell.
In the fourth phase, governance and transparency mechanisms would be put in place. A U.S.-listed corporate entity, partially owned by Syria’s sovereign energy fund, would oversee revenue distribution. This is intended to reassure foreign stakeholders and ensure transparent management of oil and gas income.
The final phase focuses on preparing for energy exports and regional integration. It outlines legal, phased exports via neighboring countries or restored coastal ports, and infrastructure links with nearby states – such as shared electricity networks and pipeline systems – as a tool for economic diplomacy.
The plan highlights strategic energy assets, including priority fields and infrastructure such as the Homs and Baniyas refineries, oil ports in Baniyas and Tartous, fuel storage facilities and gas-powered plants. Discussions on the proposal have taken place between Bass and Syrian officials, including a four-hour meeting with al-Sharaa and recent talks with Energy Minister Mohammad Bashir.
These discussions began before the U.S. Treasury temporarily lifted key sanctions on Syria under the Caesar Act for 180 days, in a decision announced on May 23.
The project includes a national campaign under the slogan “Syria First,” aimed at repositioning the country on the global energy map. The campaign prioritizes national ownership, public trust and inclusive development, with a focus on mobilizing Syrian engineers and workers to improve living standards. International cooperation would be encouraged under a model that ensures long-term, sustainable returns.
According to the plan, domestic energy needs would take precedence, followed by regional exports and, finally, international sales. The strategy emphasizes the reinvestment of energy profits into services that directly benefit the Syrian population.
