Syria is embarking on a crucial initiative to revitalize its offshore energy sector, with prominent international energy companies agreeing to assess the potential for offshore oil and gas exploration in the nation’s Mediterranean waters. This significant development sees QatarEnergy and TotalEnergies joining forces with ConocoPhillips and the Syrian Petroleum Company (SPC) to evaluate the prospects within Block 3 offshore Syria.
The agreement, formalized at QatarEnergy’s headquarters, is designed to undertake a thorough technical review of the block’s potential. This process sets a foundational framework for subsequent in-depth technical and commercial discussions among the involved parties. The move represents a vital step toward re-establishing upstream investment in Syria’s energy landscape, which has been profoundly impacted by years of conflict that disrupted production and damaged essential infrastructure.
The exploration area is situated in the Levantine Basin of the eastern Mediterranean, offshore the Syrian city of Latakia. Water depths in this region range from 100 to a considerable 1,700 meters. The collaboration is a clear indicator of Syria’s commitment to rebuilding its oil and gas industry and attracting much-needed foreign expertise and capital.
Saad Sherida Al-Kaabi, Qatar’s minister of state for energy affairs and president and CEO of QatarEnergy, underscored the strategic importance of this venture. He stated that the agreement aligns with QatarEnergy’s ongoing international growth strategy and its pursuit of upstream oil and gas business development opportunities across various regions.
He added: “We are pleased to partner with the Syrian Petroleum Co. to explore potential opportunities that can support growth and prosperity for Syria. We look forward to working closely with our international partners, TotalEnergies and ConocoPhillips, as well as other relevant stakeholders, to assess this opportunity.”
The Syrian Petroleum Company confirmed that the memorandum of understanding stipulates the second party will conduct the necessary technical studies, develop a comprehensive work program, and draft an exploration contract. This procedural step is intended to pave the way for the transition to more advanced phases of offshore exploration activities. SANA reported that this initiative is part of the SPC’s broader strategy to enhance cooperation with major international specialized companies and leverage their advanced expertise and modern technologies in exploration and production. The aim is to bolster the energy sector, improve investment opportunities, and foster economic development within Syria.
TotalEnergies also acknowledged the agreement, describing it as establishing a robust framework for technical and commercial discussions pertinent to exploration endeavors within the designated block. Julien Pouget, senior vice president for MENA exploration and production at TotalEnergies, expressed enthusiasm for this new partnership with the Syrian Petroleum Co., recalling a historically productive relationship. He added, “We look forward to cooperating with QatarEnergy and ConocoPhillips to assess Syrian offshore exploration opportunities in the Mediterranean Sea.”
This recent development follows another significant engagement in February, where the SPC signed a memorandum of understanding with Chevron International and Power International Holding for similar offshore oil and gas exploration activities in Syria. That deal, also aiming to foster strategic energy partnerships and support development pathways, further signals Syria’s active pursuit of international collaboration for its energy sector’s future. The collective efforts involving QatarEnergy, TotalEnergies, and other key players highlight a renewed focus on unlocking the potential of Syria offshore oil and gas resources.
