Doha, May 12 (QNA) - QatarEnergy has signed a memorandum of understanding with TotalEnergies, ConocoPhillips and the Syrian Petroleum Company to cooperate on oil and gas exploration offshore the Syrian Arab Republic.
The agreement provides for a joint technical review by the partners to assess the hydrocarbon potential of Block 3, located offshore Syria, and establishes a framework for further technical and commercial discussions between the parties.
The signing ceremony took place at QatarEnergy's headquarters and was witnessed by HE Minister of State for Energy Affairs and President and CEO of QatarEnergy, Saad Sherida Al Kaabi, alongside senior executives from QatarEnergy, TotalEnergies, ConocoPhillips and the Syrian Petroleum Company.
Commenting on the agreement, Al Kaabi said the deal reflected "QatarEnergy's continued international growth strategy and its efforts to explore upstream oil and gas business development opportunities in the region and globally".
He added: "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."
Block 3 is located in the Levantine Basin in the eastern Mediterranean, offshore the Syrian city of Latakia. The block spans waters with depths ranging between 100 and 1,700 meters.
The agreement marks another step in QatarEnergy's expanding international upstream portfolio as the company continues to pursue exploration and production opportunities across global energy markets. (QNA)