The Syrian Petroleum Company has signed a memorandum of understanding with QatarEnergy, TotalEnergies, and ConocoPhillips to cooperate on oil and gas exploration offshore the Syrian Arab Republic.

The agreement provides for a joint technical review by the partners to assess the hydrocarbon potential of Block 3, located offshore Syria, and establishes a framework for further technical and commercial discussions between the parties.

Block 3 Offshore is one of 5 offshore blocks to discover estimated gas resources of 240 billion cubic meter (~8.5 TCF) in the un-explored Syrian offshore acreages of East Mediterranean.

His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, witnessed the signing, which took place at QatarEnergy’s headquarters with the attendance of a number of senior executives from QatarEnergy, TotalEnergies, ConocoPhillips, and the Syrian Petroleum Company.

Commenting on the signing, H.E. Minister Al-Kaabi said: 
“This agreement reflects QatarEnergy’s continued international growth strategy and its efforts to explore upstream oil and gas business development opportunities in the region and globally.”

H.E. Minister Al-Kaabi added: 
“We are pleased to partner with the Syrian Petroleum Company to explore potential opportunities that can support growth and prosperity for the people of the Syrian Arab Republic. We look forward to working closely with our international partners, TotalEnergies and ConocoPhillips, as well as other relevant stakeholders to assess this opportunity.”

Block 3 lies in the Levantine Basin in the eastern Mediterranean waters offshore the Syrian city of Latakia with water depths ranging from 100 to 1,700 meters.​

KeyFacts Energy: QaterEnergy Syria country profile   l   TotalEnergies Syria country profile   l   ConocoPhillips Syria country profile   l   KeyFacts Energy news: New Kid on the Block