Doha: QatarEnergy has signed a memorandum of understanding with TotalEnergies, ConocoPhillips, and the Syrian Petroleum Company, initiating a collaborative venture for oil and gas exploration offshore the Syrian Arab Republic. This agreement aims to conduct a joint technical review to evaluate the hydrocarbon potential of Block 3, situated offshore Syria, and sets a framework for further technical and commercial discussions among the involved parties.

According to Qatar News Agency, the signing ceremony took place at QatarEnergy's headquarters. The event was attended by HE Minister of State for Energy Affairs and President and CEO of QatarEnergy, Saad Sherida Al Kaabi, along with senior executives from QatarEnergy, TotalEnergies, ConocoPhillips, and the Syrian Petroleum Company. Al Kaabi commented on the agreement, stating that it reflects "QatarEnergy's continued international growth strategy and its efforts to explore upstream oil and gas business development opportunities in the region and globally."

Al Kaabi further expressed satisfaction in partnering with the Syrian Petroleum Company to explore opportunities that could foster growth and prosperity for the Syrian Arab Republic. He emphasized the importance of collaboration with international partners, TotalEnergies and ConocoPhillips, and other stakeholders to assess the opportunity presented by Block 3.

Block 3 is located in the Levantine Basin in the eastern Mediterranean, offshore the Syrian city of Latakia, encompassing waters with depths ranging from 100 to 1,700 meters. This agreement signifies another step in QatarEnergy's expanding international upstream portfolio as it continues to seek exploration and production opportunities in global energy markets.