Syrian energy ministry and Saudi firm Kashen sign deal to develop digital oil derivatives platform

The Ministry of Energy of the Syrian Arab Republic announced today in Damascus the signing of a strategic partnership agreement with Saudi company Kashen to develop and operate the national digital platform for oil derivatives. The project will be overseen by the Syrian Ministry of Energy, with participation from a delegation of the Saudi Ministry of Energy.

The signing ceremony was held under the patronage of Syrian Minister of Energy Mohammed Al-Bashir, and attended by Fouad Mousa, advisor to the Syrian Minister of Energy and general supervisor of the Office of International Projects, as well as Mohammed Al-Humaidi, director general of the Petroleum and Gas Sector.

The agreement aims to build an integrated digital system connecting all entities involved in the oil derivatives sector within a unified platform, covering production, transport, storage, distribution, fuel stations, and financial settlement. The platform will link operational processes with financial flows and provide a unified data view across the value chain, enhancing planning, decision-making, oversight, and transparency in the movement of oil derivatives.

Saudi-led development and technical solutions

Under the agreement, Saudi company Kashen will develop and operate the platform’s technical solutions in cooperation with the Syrian Ministry of Energy, leveraging its experience in the Saudi market in integrating operational and financial processes within comprehensive digital systems.

This partnership is part of broader Saudi-Syrian cooperation in the energy and digital transformation sectors, and serves as a model for expanding Saudi technologies and transferring AI- and automation-based expertise and solutions to new regional markets.