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After almost 14 years of war, Syrians are in desperate need of rebuilding their homes. Once reconstruction begins, millions of Syrian refugees and internally displaced persons (IDPs) will be able to return home, reviving the Syrian economy. However, the SDF is not only stalling the implementation of the March 10 agreement for Syria’s territorial integrity but also delaying the country’s reconstruction. As a result, the Syrian people are still unable to benefit from their own oil resources.
The cost of reconstructing Syria is estimated at between $250 billion and $400 billion. According to Gulfsands CEO John Bell, Syria could generate up to $15 billion annually from its oil production. For Syria, this would represent a critically needed source of funding.
Without oil revenues, the Syrian government lacks financing and remains entirely dependent on foreign aid. Although the international community has pledged investments in Syria, these commitments have yet to materialize. And even if they do, they will not address the main problem facing ordinary Syrians: housing.
To rebuild homes and start reconstruction projects, the Syrian government needs reliable funding. In an attempt to raise at least some funding, Syrians launched a fundraising campaign across various governorates to collect private donations for reconstruction.
While the donation campaign is a positive step, it has so far generated little funding. The largest contribution by far came from the governorate of Idlib, amounting to $180 million. Other governorates have only managed to raise significantly smaller amounts.
1 min read
If the Syrian government were to expand its control over all Arab-majority areas and thereby gain access to all of Syria’s oil fields, several energy companies would be interested in investing in production. Yet the SDF continues to block the integration process, depriving Syrians of these much-needed resources.
Since January 2017, the SDF has deprived Syria of an estimated $3.85 billion in revenues from Block 26 alone. In total (including all oil fields), using outdated and unsophisticated methods, the SDF currently produces about 80,000 barrels a day. With modernized equipment and methods, however, Syria could produce as much as 500,000 barrels a day.
If Damascus were to regain control of all oil fields and secure proper investment, Syrian oil production could yield up to $15 billion per year.
The SDF’s stalling thus prolongs the dire financial situation of Syrians after years of destruction, preventing them from rebuilding their own country with their own resources.
2 min read
