French company TotalEnergies, in cooperation with QatarEnergy and ConocoPhillips, announced the signing of a Memorandum of Understanding with the Syrian Petroleum Company. The agreement, which took place today, Tuesday, aims at offshore exploration in Block 3 off the Syrian coast in the Mediterranean Sea.
Details of the Memorandum of Understanding
The French company clarified in its official statement that the MoU includes a comprehensive technical review of the offshore Block 3 area by the partners. The MoU also defines a framework for future technical and commercial discussions related to exploration activities in this vital sector.
TotalEnergies' Aspirations
Julien Pouget, Senior Vice President for Exploration and Production in the Middle East and North Africa at TotalEnergies, expressed his pleasure with this new partnership. He highlighted the long and fruitful relationship with the Syrian Petroleum Company, which extended from 1988 to 2011, and looks forward to cooperating with partners to evaluate exploration opportunities.
TotalEnergies' Global Presence
TotalEnergies is an integrated global energy company operating in nearly 120 countries and employing over 100,000 people. The company produces and markets various types of energy, including oil, natural gas, and renewable energies, with a focus on providing reliable and sustainable energy.
Context of Offshore Exploration in Syria
This development follows the Syrian Petroleum Company's announcement yesterday, Monday, that it had received official notification from the American company Chevron. The notification concerns the initiation of procedures for the first offshore energy exploration project in Syria, in cooperation with UCC Holding.
Chevron's Strategic Project
The Syrian Petroleum Company clarified that Chevron's notification paves the way for completing contractual arrangements and commencing technical operations during the summer of 2026. This project represents a strategic step for the development of the Syrian petroleum sector, as it establishes the first deep-water offshore exploration operation in the regional waters.
Syria's Vision for the Energy Sector
The project falls within Syria's vision to attract major international energy companies and enhance exploration and development projects. This step reflects growing confidence in the Syrian energy sector and its promising potential, opening new horizons for investment and international cooperation to support the national economy.
Keywords
- Syrian Economic News
- Syrian Petroleum Company
- TotalEnergies
- Offshore Exploration
- QatarEnergy
- ConocoPhillips
- Mediterranean Sea
