Syrian Firm Restores Rumeilan Oilfields with US Partner

The Syrian Petroleum Company (SPC) has reached an agreement with US-based HKN Energy to restore production capacity at the Rumeilan oilfields in northeast Syria's Hasaka province.

Under the deal, the SPC will retain 70 percent of the shares, while HKN Energy will take home 30 percent. The agreement provides for the rehabilitation of wells and drilling of new ones to increase oil production, which is expected to reach around 250,000 barrels per day by the end of 2027.

The Rumeilan complex produced between 180,000 and 200,000 barrels per day before the Syrian war, accounting for roughly half of the country's total oil output. The deal also includes the dispatching of hundreds of tanker trucks to Hasaka to support operations in the sector.

Syrian official Youssef Qablaoui told Rudaw that the Kurdish-majority Hasaka province will have a share in oil revenues generated from the Rumeilan fields, with 30 percent allocated to them under the deal.