TotalEnergies Signs with QatarEnergy and ConocoPhillips to Explore Syrian Offshore
TotalEnergies, together with QatarEnergy and ConocoPhillips, signed a memorandum of understanding (MoU) on Tuesday with the Syrian Petroleum Company to explore offshore block 3 in the Mediterranean off the coast of Syria.
A Technical Evaluation Agreement on Offshore Block 3
The agreement signed with the Syrian Petroleum Company involves a technical evaluation of the area of offshore block 3 by the three partners. The memorandum of understanding also establishes a framework for technical and commercial discussions related to exploration activities on this block.
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TotalEnergies is strengthening its presence in the Eastern Mediterranean through this new partnership with the Syrian Petroleum Company, with which the group had maintained relations from 1988 to 2011. Julien Pouget, Director of Middle East and North Africa for the Exploration-Production branch of TotalEnergies, stated: "We are pleased with this new partnership with the Syrian Petroleum Company with whom we have had long and successful relations from 1988 to 2011, and we look forward to cooperating with QatarEnergy and ConocoPhillips to assess offshore exploration opportunities in the Mediterranean Sea off the coast of Syria."
SectorEnergie · Pétrole et gaz›Pétrole et gaz intégrés
Context
Period
Period: 1T2026
Key reported figures
Revenue: 5394M$
EBITDA: 12552M$
Net income: 5810M$
Free cash flow: 8600M$
Guidance from the release
Portée par une croissance organique de sa production de 4 % sur un an.
TotalEnergies affiche des résultats en forte hausse au premier trimestre 2026.
Risks mentioned
Conflit au Moyen-Orient affectant la production.
Augmentation du besoin en fonds de roulement de 5,1 G$.
Opportunities identified
Croissance organique de production de 4 %.
Finalisation de la fusion de ses actifs au Royaume-Uni.
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