TotalEnergies Eyes Offshore Exploration Deal in Syria

Corporate ActionCommodity
โดย Oilprice.com·Read original
Summary · why it matters

TotalEnergies is seeking to convert a preliminary agreement into a full exploration contract for offshore Block 3 in Syria. CEO Patrick Pouyanné said during a visit to Damascus that the company will discuss the potential signing with Syrian officials, noting the area has never really been explored historically. In May, TotalEnergies, QatarEnergy, and ConocoPhillips signed a Memorandum of Understanding with the Syrian Petroleum Company covering a technical review of the block. Pouyanné added that onshore activities remain too risky for now, while Syria's state oil firm has said it expects to award licenses to international majors to tap estimated huge reserves.

Impact on stocks 2

Energy▲ · 2 stocks
TotalEnergies SE
TTE
▲ PositiveGeopoliticsSupplyrelevance

TotalEnergies is seeking to convert preliminary agreement into full exploration contract for offshore Block 3 in Syria.

ConocoPhillips
COP
± MixedGeopoliticsrelevance

ConocoPhillips signed MoU for technical review, but deal is uncertain and onshore remains too risky.

Off-coverage companies 2

Syrian Petroleum CompanyPrivate▲ Positive
DemandGeopoliticsrelevance

Syrian Petroleum Company expects to award licenses to international majors to tap estimated huge reserves, which could lead to development and revenue.

QatarEnergyPrivate± Mixed
Geopoliticsrelevance

QatarEnergy signed MoU for technical review, but deal is uncertain and onshore remains too risky.

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