Damascus Signing
On 12 May 2026, the Syrian Petroleum Company (SPC), represented by its chief executive Youssef Qablawi, signed a memorandum of understanding in Damascus with US-based ConocoPhillips, France's TotalEnergies and QatarEnergy to assess offshore oil and gas potential in Syrian territorial waters. The agreement marks one of the clearest signals so far of efforts to re-engage international energy majors after years in which conflict and sanctions disrupted production and damaged infrastructure.
Block 3 Off Latakia
The MOU covers offshore Block 3 in Syria's Mediterranean waters, an area within the wider Levantine Basin off the coast near Latakia. According to energy industry data cited in coverage of the deal, the block lies in water depths ranging from 100 to 1,700 metres. The eastern Mediterranean has attracted growing interest from global energy firms in recent years following major offshore gas discoveries across the basin.
From MOU to Exploration Contract
Under the deal, the partner companies will conduct geological and technical studies, prepare a work programme and draft a potential exploration contract that would clear the way for advanced operational phases. SPC said the framework reflects its strategy of expanding cooperation with leading international firms and accessing advanced exploration and production technologies.
TotalEnergies Returns After 14 Years
TotalEnergies framed the deal as a reconnection with Syria after suspending operations in 2011 in line with European Union sanctions. Julien Pouget, the company's senior vice president for Middle East and North Africa exploration and production, said the firm was "pleased to enter into this new partnership with the Syrian Petroleum Company, with which we had a long and fruitful relationship from 1988 to 2011," and added that it would work with QatarEnergy and ConocoPhillips to assess offshore opportunities in the eastern Mediterranean.
Qatari and US Stakes
QatarEnergy presented the agreement as part of its international upstream expansion. Chief executive Saad Sherida Al-Kaabi said the firm was "pleased to partner with the Syrian Petroleum Company to explore projects that can support growth and prosperity for Syria," and looked forward to working with TotalEnergies, ConocoPhillips and other stakeholders. ConocoPhillips joined as the US member of the consortium alongside the European and Qatari partners.