Key facts
- TotalEnergies is in discussions with Syrian officials about an offshore exploration contract.
- The potential contract is for offshore Block 3 in the Mediterranean Sea.
- TotalEnergies, QatarEnergy, and ConocoPhillips signed a preliminary Memorandum of Understanding (MoU) in May.
- The MoU outlines a framework for technical and commercial discussions regarding exploration.
- TotalEnergies considers onshore exploration in Syria too risky at this time.
- Syria estimates significant gas reserves and seeks international partners to revive its hydrocarbon industry.
TotalEnergies is exploring the possibility of signing an offshore exploration contract in Syria, according to CEO Patrick Pouyanné. The French energy giant is in discussions with Damascus officials regarding Block 3 in the Mediterranean Sea. This follows a Memorandum of Understanding (MoU) signed in May with the Syrian Petroleum Company (SPC), alongside partners QatarEnergy and ConocoPhillips. The MoU established a framework for technical and commercial discussions concerning the exploration of the offshore block, which has historically been underexplored.
Pouyanné indicated that while offshore exploration is being considered, onshore activities in Syria remain too high-risk for TotalEnergies at present. Earlier this year, the CEO of the Syrian Petroleum Company, Youssef Qablawi, expressed expectations that major international oil firms would be awarded exploration licenses, citing estimated huge reserves of gas and untapped land. Syria is reportedly seeking assistance from U.S. firms Chevron and ConocoPhillips, as well as European majors TotalEnergies and Eni, to help revive its hydrocarbon industry after more than a decade of civil war.