QatarEnergy has signed a memorandum of understanding (MoU) with TotalEnergies, ConocoPhillips and the Syrian Petroleum Company for cooperation in offshore oil and gas exploration in Syria.
The agreement covers a technical review to assess the potential of Block 3 offshore Syria and establishes a framework for further technical and commercial discussions, QatarEnergy said on Tuesday.
Block 3 is located in the Levantine Basin in the eastern Mediterranean offshore the Syrian city of Latakia, with water depths ranging from 100 metres to 1,700 metres.
The memorandum was signed at QatarEnergy headquarters in Doha in the presence of senior executives from the participating companies and Syria’s state oil company.
“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.
“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,” Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy.