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Market Chatter: ConocoPhillips Poised to Sign Syria Gas Development Deal

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ConocoPhillips (COP) is set to become the first major US oil and gas company to sign a development agreement with Syria's new government, the Financial Times reported on Tuesday, citing people familiar with the matter.

The deal, which is expected to be signed this week, would see ConocoPhillips and Novaterra Energy partner with the state-owned Syrian Petroleum Company to develop existing gas fields and explore for new reserves, according to the report.

ConocoPhillips did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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