In a step reflecting the growing international interest in the Syrian energy sector, a memorandum of understanding (MoU) was announced today under the auspices of the Ministry of Energy. The agreement was signed between the Syrian Petroleum Company (SPC), France's TotalEnergies, the US-based ConocoPhillips, and Qatar's QatarEnergy to cooperate in oil and gas exploration within Syrian territorial waters.
The MoU stipulates conducting the necessary technical studies, preparing work programs, and drafting the contractual frameworks for offshore exploration activities in preparation for transitioning to advanced executive phases.
The signing of this memorandum aligns with efforts to develop the Syrian energy sector and utilize offshore natural resources through cooperation with international companies that possess advanced expertise and technologies in exploration and production. This initiative aims to support the national energy sector and enhance investment opportunities and economic development.
The signatory corporations are among the world's leading energy companies in the fields of exploration and production, with a vast presence in major oil and gas projects globally, including deepwater offshore projects and gas field development in the Eastern Mediterranean region.