Logo ofACWA
ACWA (formerly known as ACWA Power) confirmed that oil and gas exploration operations are not part of its business portfolio, as stated in its official disclosures, reflecting the nature of its activities in the fields of renewable energy, desalinated water, green hydrogen, and related infrastructure.
In a statement, the company clarified that the joint development agreement recently announced in Syria relates exclusively to water desalination and transportation studies and does not in any way involve oil or gas exploration or production.
It further noted that it will continue to focus on implementing projects included in its current portfolio in the fields of energy and water, in line with the directives of the relevant authorities in the countries in which it operates.
Reuters reported yesterday that two Saudi companies, including ACWA, and three US-based companies will form a consortium to explore and produce oil and gas in northeastern Syria.
Logo ofACWA
ACWA (formerly known as ACWA Power) confirmed that oil and gas exploration operations are not part of its business portfolio, as stated in its official disclosures, reflecting the nature of its activities in the fields of renewable energy, desalinated water, green hydrogen, and related infrastructure.
In a statement, the company clarified that the joint development agreement recently announced in Syria relates exclusively to water desalination and transportation studies and does not in any way involve oil or gas exploration or production.
It further noted that it will continue to focus on implementing projects included in its current portfolio in the fields of energy and water, in line with the directives of the relevant authorities in the countries in which it operates.
Reuters reported yesterday that two Saudi companies, including ACWA, and three US-based companies will form a consortium to explore and produce oil and gas in northeastern Syria.
