Syria signs MOU with QatarEnergy, TotalEnergies, and ConocoPhillips for offshore exploration

Syria’s state-owned Syrian Petroleum Company (SPC) has signed a Memorandum of Understanding (MOU) with QatarEnergy, TotalEnergies, and ConocoPhillips to explore Block 3, an offshore area in the Mediterranean Sea near the coastal city of Latakia in the Levantine Basin.

The non-binding agreement establishes a framework for a joint technical review of the block—where water depths reach approximately 1,700 meters—and sets the stage for future technical and commercial discussions on potential exploration activities.

The deal was signed at QatarEnergy’s headquarters in Doha and witnessed by senior executives, including QatarEnergy CEO Saad Sherida Al-Kaabi, who described the partnership as one that could support Syria’s growth and prosperity.

Syria’s aggressive push

The MOU marks another step in Syria’s aggressive push to revive its hydrocarbon sector following the ouster of former President Bashar al-Assad in December 2024 and the subsequent easing of Western sanctions. Prior to the civil war, Syria produced around 380,000 barrels of oil per day in 2010, with TotalEnergies alone contributing 53,000 barrels of oil equivalent daily, largely from gas.

Years of conflict devastated infrastructure, but the new government is now courting international majors to unlock what officials describe as substantial untapped offshore potential in the Eastern Mediterranean—waters adjacent to major discoveries such as Israel’s Leviathan field and Egypt’s Zohr.

Analysts see even modest success (such as a single high-impact well) as transformative for job creation and local economic activity in a country rebuilding after more than a decade of war. The involvement of three global players—Qatar’s national oil company, a French supermajor, and a US independent—signals growing international confidence in Syria’s energy future.

Earlier MOU

This exploration MOU is distinct and separate from the one that Syria signed with Qatar UCC and Chevron in February 2026. This (February) MOU is targeting Syria’s first deepwater offshore oil and gas exploration project. On May 11, 2026—just one day before the latest announcement—SPC confirmed that the partners had identified a specific offshore block, paving the way for contract finalization and the start of technical operations this summer.

While both agreements target offshore hydrocarbon potential in Syrian Mediterranean waters and reflect the same post-2024 opening of the energy sector, they are distinct deals involving different consortia and blocks. The February Chevron/UCC MOU focuses on launching Syria’s inaugural deepwater initiative with a US supermajor and a private Qatari investor. In contrast, the new May MOU brings together Qatar’s state-owned QatarEnergy (distinct from the private UCC Holding), TotalEnergies, and ConocoPhillips specifically for Block 3. ConocoPhillips’ participation here is separate from its earlier November 2025 onshore gas MOU with Novaterra.

Together, the two offshore MOUs illustrate Syria’s strategy of awarding multiple blocks to accelerate exploration across the promising Levantine Basin.